Palantir Technologies (NASDAQ:PLTR) Shares Up 2.1% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 2.1% on Wednesday . The stock traded as high as $77.31 and last traded at $75.96. Approximately 30,261,595 shares changed hands during trading, a decline of 50% from the average daily volume of 60,173,078 shares. The stock had previously closed at $74.39.

Analysts Set New Price Targets

A number of research analysts have commented on PLTR shares. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday. UBS Group assumed coverage on Palantir Technologies in a research report on Thursday. They issued a “neutral” rating and a $80.00 price target on the stock. Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Wedbush upped their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $39.06.

Palantir Technologies Trading Up 3.8 %

The company has a market capitalization of $169.05 billion, a price-to-earnings ratio of 371.07, a PEG ratio of 10.18 and a beta of 2.87. The company has a 50 day moving average price of $58.32 and a 200 day moving average price of $39.85.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. Equities analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the sale, the director now directly owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,612,366 shares of company stock worth $1,867,342,292 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Fifth Third Bancorp lifted its position in shares of Palantir Technologies by 4.1% in the second quarter. Fifth Third Bancorp now owns 71,491 shares of the company’s stock valued at $1,811,000 after buying an additional 2,805 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Palantir Technologies in the second quarter valued at about $209,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth about $277,000. Premier Path Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 8.3% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 14,948 shares of the company’s stock worth $379,000 after buying an additional 1,148 shares during the period. Finally, Everhart Financial Group Inc. grew its stake in Palantir Technologies by 6.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 16,073 shares of the company’s stock valued at $407,000 after buying an additional 912 shares during the last quarter. 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.