Palantir Technologies (NASDAQ:PLTR) Trading Up 3.2% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 3.2% during trading on Thursday . The stock traded as high as $70.38 and last traded at $70.35. Approximately 23,996,589 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 70,494,305 shares. The stock had previously closed at $68.14.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wedbush lifted their target price on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.12.

Palantir Technologies Trading Up 2.9 %

The stock has a 50-day moving average price of $69.95 and a two-hundred day moving average price of $46.69. The stock has a market cap of $159.80 billion, a price-to-earnings ratio of 350.74, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. Research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Thoroughbred Financial Services LLC purchased a new position in shares of Palantir Technologies during the second quarter worth $290,000. WINTON GROUP Ltd purchased a new position in Palantir Technologies during the 2nd quarter valued at about $241,000. Dimensional Fund Advisors LP grew its position in Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Palantir Technologies during the second quarter worth about $242,000. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth about $319,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.