Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.5% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 1.5% on Tuesday . The stock traded as high as $73.43 and last traded at $72.86. Approximately 22,930,669 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 68,350,414 shares. The stock had previously closed at $71.77.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLTR. Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Northland Securities upped their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald started coverage on Palantir Technologies in a research report on Friday. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Trading Up 2.0 %

The company’s 50-day simple moving average is $70.72 and its 200 day simple moving average is $47.79. The stock has a market cap of $166.82 billion, a P/E ratio of 366.32, a PEG ratio of 6.66 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares during the period. Edgestream Partners L.P. bought a new position in shares of Palantir Technologies in the second quarter worth $350,000. Amalgamated Bank boosted its holdings in shares of Palantir Technologies by 5.0% in the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after acquiring an additional 6,472 shares during the period. Blair William & Co. IL grew its position in shares of Palantir Technologies by 18.4% in the second quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock valued at $1,569,000 after purchasing an additional 9,623 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $351,000. Hedge funds and other institutional investors 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.