Palantir Technologies (NYSE:PLTR) Shares Up 1.8% – Still a Buy?

Palantir Technologies Inc. (NYSE:PLTR) shot up 1.8% during trading on Friday . The company traded as high as $42.57 and last traded at $42.32. 12,539,413 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 55,967,895 shares. The stock had previously closed at $41.56.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. Mizuho upped their target price on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wedbush upped their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Price Performance

The company’s 50 day moving average price is $37.98 and its 200 day moving average price is $29.55. The firm has a market capitalization of $93.88 billion, a P/E ratio of 246.60 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Ryan D. Taylor sold 123,334 shares of the company’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 completion of the sale, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,204,508 shares of company stock worth $802,654,666. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PLTR. Walter & Keenan Wealth Management LLC IN ADV grew its stake in shares of Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC boosted its holdings in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC grew its position in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares in the last quarter. LCM Capital Management Inc increased its stake in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after buying an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in Palantir Technologies by 0.6% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock valued at $1,799,000 after buying an additional 300 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.