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

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

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Stock Up 3.7 %

The company’s 50-day moving average is $70.49 and its 200-day moving average is $47.47. The stock has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during 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 for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLTR. State Street Corp increased its stake in shares of 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 buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its position in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during 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 purchasing an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP lifted its position in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the period. Institutional investors and hedge funds 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.