Palantir Technologies (NASDAQ:PLTR) Trading 3.3% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 3.3% during mid-day trading on Friday . The company traded as high as $71.34 and last traded at $71.52. 22,277,686 shares changed hands during trading, a decline of 68% from the average session volume of 69,519,922 shares. The stock had previously closed at $69.24.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Northland Securities upped their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald initiated coverage on Palantir Technologies in a report on Friday. They issued a “neutral” rating and a $72.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Performance

The firm has a fifty day moving average price of $70.49 and a two-hundred day moving average price of $47.17. The stock has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the fourth 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 period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter worth about $30,000. 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.