Palantir Technologies (NYSE:PLTR) Trading Up 0.8% – Time to Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 0.8% during trading on Monday . The company traded as high as $44.39 and last traded at $43.84. Approximately 15,825,055 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 57,218,242 shares. The stock had previously closed at $43.51.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. DA Davidson boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, Jefferies Financial Group boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Trading Down 1.8 %

The company has a market cap of $92.75 billion, a PE ratio of 353.67 and a beta of 2.72. The stock has a 50 day moving average price of $34.78 and a 200 day moving average price of $27.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In related news, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,837,176 shares of company stock worth $649,593,747 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.