Palantir Technologies (NYSE:PLTR) Stock Price Up 4.7% – Still a Buy?

Palantir Technologies Inc. (NYSE:PLTR) traded up 4.7% on Monday . The company traded as high as $61.39 and last traded at $61.11. 40,237,035 shares were traded during trading, a decline of 30% from the average session volume of 57,491,762 shares. The stock had previously closed at $58.39.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLTR. Monness Crespi & Hardt dropped their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. DA Davidson increased their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Trading Up 3.4 %

The firm’s 50-day simple moving average is $40.13 and its 200 day simple moving average is $30.71. The stock has a market cap of $135.24 billion, a P/E ratio of 305.57 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 72,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the sale, the insider now directly owns 298,012 shares in the company, valued at approximately $9,292,014.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David A. Glazer sold 72,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the completion of the sale, the insider now owns 298,012 shares in the company, valued at $9,292,014.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,462,878 shares of company stock valued at $1,043,597,696. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC lifted its position in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

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.