Palantir Technologies (NASDAQ:PLTR) Trading Up 1% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price shot up 1% during trading on Thursday . The company traded as high as $178.44 and last traded at $177.92. 29,004,569 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 80,726,742 shares. The stock had previously closed at $176.08.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. UBS Group increased their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. HSBC lifted their price target on Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings downgraded Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Trading Up 2.2%

The firm has a 50 day moving average of $178.99 and a two-hundred day moving average of $161.21. The stock has a market capitalization of $433.21 billion, a PE ratio of 432.77, a P/E/G ratio of 6.90 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 1,973 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $308,281.25. Following the completion of the transaction, the insider directly owned 413,639 shares of the company’s stock, valued at $64,631,093.75. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the transaction, the insider owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,029,844 shares of company stock worth $168,161,111 in the last 90 days. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Vanguard Group Inc. raised its stake in Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after purchasing an additional 8,168,604 shares during the last quarter. State Street Corp raised its position in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $3,307,457,000. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 5.9% during the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after buying an additional 1,213,529 shares during the period. Finally, Northern Trust Corp boosted its position in Palantir Technologies by 3.8% during the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock worth $3,846,957,000 after acquiring an additional 769,238 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 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.