Palantir Technologies (NYSE:PLTR) Shares Up 1% – Time to Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 1% during mid-day trading on Wednesday . The stock traded as high as $43.44 and last traded at $43.37. Approximately 10,625,551 shares traded hands during trading, a decline of 81% from the average daily volume of 56,586,867 shares. The stock had previously closed at $42.94.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLTR. Citigroup increased their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Mizuho boosted their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Northland Securities started coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.86.

Palantir Technologies Stock Performance

The company has a 50-day moving average price of $36.60 and a 200-day moving average price of $28.62. The firm has a market capitalization of $97.54 billion, a P/E ratio of 256.22 and a beta of 2.72.

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

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Heritage Wealth Management Inc. CA bought a new position in Palantir Technologies in the third quarter valued at $1,076,000. Cyndeo Wealth Partners LLC bought a new position in shares of Palantir Technologies in the 3rd quarter valued at about $6,339,000. Seven Grand Managers LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $930,000. Dock Street Asset Management Inc. boosted its position in Palantir Technologies by 23.4% during the third quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock valued at $37,161,000 after purchasing an additional 189,189 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in Palantir Technologies during the third quarter valued at approximately $483,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.