Palantir Technologies (NYSE:PLTR) Stock Price Up 1.4% – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR) shares were up 1.4% on Friday . The company traded as high as $67.00 and last traded at $66.97. Approximately 15,210,859 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 58,644,922 shares. The stock had previously closed at $66.05.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PLTR shares. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Wedbush raised their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Price Performance

The stock’s 50 day moving average price is $48.27 and its two-hundred day moving average price is $34.55. The firm has a market capitalization of $151.85 billion, a price-to-earnings ratio of 334.87, a PEG ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. This represents a 20.12 % 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, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the sale, the director now directly owns 111,644 shares in the company, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its position in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares in the last quarter. 45.65% of the stock is owned by 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.