Palantir Technologies (NYSE:PLTR) Trading 3.2% Higher – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s share price traded up 3.2% during trading on Friday . The company traded as high as $45.07 and last traded at $44.97. 24,228,171 shares were traded during mid-day trading, a decline of 57% from the average session volume of 56,429,344 shares. The stock had previously closed at $43.56.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Citigroup lifted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Northland Securities began coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Up 3.0 %

The stock has a market cap of $99.90 billion, a PE ratio of 373.83 and a beta of 2.72. The company has a fifty day moving average price of $36.86 and a 200 day moving average price of $28.81.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC boosted its stake in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc boosted its stake in Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after purchasing an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.