Palantir Technologies (NASDAQ:PLTR) Stock Price Up 0.2% – Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 0.2% on Thursday . The stock traded as high as $81.66 and last traded at $79.92. 18,687,607 shares traded hands during trading, a decline of 72% from the average session volume of 66,618,477 shares. The stock had previously closed at $79.76.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Cantor Fitzgerald started coverage on Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Finally, The Goldman Sachs Group increased their price target 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Performance

The firm has a market capitalization of $185.18 billion, a PE ratio of 406.98, a P/E/G ratio of 7.08 and a beta of 2.82. The stock’s 50-day simple moving average is $72.94 and its 200-day simple moving average is $50.10.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business 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 company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the transaction, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLTR. Roxbury Financial LLC bought a new position in Palantir Technologies in the 4th quarter worth $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC grew its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. R Squared Ltd bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $38,000. 45.65% of the stock is owned by hedge funds and other 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.