Palantir Technologies (NASDAQ:PLTR) Trading 3.7% Higher – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 3.7% during mid-day trading on Monday . The stock traded as high as $72.34 and last traded at $71.77. 54,590,923 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 79,745,712 shares. The stock had previously closed at $69.24.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Stock Up 3.7 %

The firm has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The stock has a 50 day moving average of $70.49 and a 200 day moving average of $47.47.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Palantir Technologies by 96.4% during 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 period. Geode Capital Management LLC raised its holdings in Palantir Technologies by 52.9% during the 3rd 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 lifted its stake in Palantir Technologies by 3,476.2% during 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. boosted its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $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.

About Palantir Technologies

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.