Palantir Technologies (NASDAQ:PLTR) Trading 2.5% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) was up 2.5% during mid-day trading on Tuesday . The company traded as high as $188.50 and last traded at $187.75. Approximately 41,586,956 shares traded hands during trading, a decline of 48% from the average daily volume of 79,264,125 shares. The stock had previously closed at $183.25.

Analyst Ratings Changes

Several research analysts have recently issued reports on PLTR shares. Cantor Fitzgerald upped their price objective on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Piper Sandler upped their price target on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Mizuho increased their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Jefferies Financial Group restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, Daiwa Capital Markets upped their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Price Performance

The firm’s 50 day moving average price is $179.39 and its two-hundred day moving average price is $164.33. The firm has a market cap of $447.49 billion, a price-to-earnings ratio of 447.03, a P/E/G ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $6,115,000.00. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $92,500. This trade represents a 98.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider directly owned 251,409 shares in the company, valued at approximately $40,818,765.24. The trade was a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,008,844 shares of company stock valued at $164,676,161. Corporate insiders own 9.23% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Norges Bank acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $2,543,888,000. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 4.0% during the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares in the last quarter. State Street Corp grew its position in Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock valued at $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.