Palantir Technologies (NASDAQ:PLTR) Shares Up 2.1% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price was up 2.1% during trading on Wednesday . The company traded as high as $84.80 and last traded at $82.38. Approximately 64,983,266 shares were traded during trading, an increase of 5% from the average daily volume of 61,714,367 shares. The stock had previously closed at $80.69.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLTR shares. UBS Group began coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Mizuho upped their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Stock Down 0.3 %

The business’s 50 day simple moving average is $62.22 and its 200-day simple moving average is $41.90. The stock has a market capitalization of $187.12 billion, a price-to-earnings ratio of 410.72, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last announced 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. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 27,361,841 shares of company stock worth $1,563,283,006 over the last 90 days. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Palantir Technologies during the second quarter valued at $36,000. 45.65% of the stock is currently owned by institutional investors.

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.