Palantir Technologies (NASDAQ:PLTR) Stock Price Up 3.2% – Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 3.2% during trading on Wednesday . The company traded as high as $68.85 and last traded at $68.05. Approximately 25,371,768 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 72,275,148 shares. The stock had previously closed at $65.91.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLTR shares. Mizuho lifted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Wedbush boosted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Performance

The business has a 50 day moving average price of $70.22 and a 200-day moving average price of $46.85. The company 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.

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, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on 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 owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $30,000. Institutional investors own 45.65% of the company’s stock.

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.