Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.5% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price shot up 1.5% during mid-day trading on Tuesday . The company traded as high as $73.43 and last traded at $72.86. 22,930,669 shares traded hands during trading, a decline of 66% from the average session volume of 68,350,414 shares. The stock had previously closed at $71.77.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. 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 report on Monday, November 25th. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, DA Davidson boosted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. 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. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Trading Up 2.7 %

The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a PEG ratio of 6.73 and a beta of 2.82. The firm has a 50-day simple moving average of $71.30 and a 200-day simple moving average of $48.32.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Dimensional Fund Advisors LP lifted its position in shares of Palantir Technologies by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after buying an additional 278,544 shares in the last quarter. XTX Topco Ltd acquired a new position in Palantir Technologies during the second quarter worth $330,000. Thrivent Financial for Lutherans lifted its holdings in Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after purchasing an additional 9,109 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $51,000. Finally, ProShare Advisors LLC increased its stake in shares of Palantir Technologies by 14.9% during the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.