Palantir Technologies (NASDAQ:PLTR) Trading Up 4.3% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded up 4.3% during trading on Friday . The company traded as high as $78.50 and last traded at $78.46. 23,823,229 shares were traded during mid-day trading, a decline of 48% from the average session volume of 46,143,832 shares. The stock had previously closed at $75.19.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLTR. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Stock Up 6.3 %

The stock’s 50-day moving average price is $66.28 and its 200 day moving average price is $44.25. The firm has a market capitalization of $181.99 billion, a price-to-earnings ratio of 399.47, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,160,723 shares of company stock valued at $1,408,158,941. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. International Assets Investment Management LLC grew its stake in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP lifted its stake in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.