Palantir Technologies (NASDAQ:PLTR) Shares Up 4.4% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 4.4% on Tuesday . The stock traded as high as $79.46 and last traded at $78.74. 27,885,928 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 68,070,008 shares. The stock had previously closed at $75.44.

Analysts Set New Price Targets

Several equities analysts have commented on PLTR shares. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho raised their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $44.61.

Palantir Technologies Stock Performance

The firm has a 50 day moving average price of $72.25 and a two-hundred day moving average price of $49.52. The company has a market capitalization of $182.77 billion, a P/E ratio of 401.17, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $876,000. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.