Palantir Technologies (NASDAQ:PLTR) Shares Up 4.7% – Still a Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were up 4.7% during mid-day trading on Thursday . The company traded as high as $187.33 and last traded at $185.69. Approximately 39,917,007 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 78,961,203 shares. The stock had previously closed at $177.29.

Analyst Ratings Changes

A number of equities analysts have recently commented on PLTR shares. HSBC raised their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Citigroup raised their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” 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 report on Tuesday, November 4th. Finally, Morgan Stanley boosted their price target on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Stock Performance

The company’s 50-day moving average is $179.37 and its 200-day moving average is $164.85. The firm has a market cap of $442.58 billion, a price-to-earnings ratio of 442.13, a P/E/G ratio of 7.28 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue was up 62.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares in the company, valued at $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 19,004 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at $100,435,312.50. This represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,008,844 shares of company stock valued at $164,750,951 over the last 90 days. Company insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after buying an additional 7,194,216 shares during the period. Truist Financial Corp raised its stake in Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after acquiring an additional 21,809 shares during the period. State of Michigan Retirement System lifted its holdings in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after purchasing an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new position in shares of Palantir Technologies in the second quarter worth approximately $204,000. Finally, New Century Financial Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth $228,000. Institutional investors own 45.65% of the company’s stock.

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.