Palantir Technologies (NASDAQ:PLTR) Trading 3.1% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 3.1% on Tuesday . The company traded as high as $84.80 and last traded at $83.21. 37,625,821 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 61,586,305 shares. The stock had previously closed at $80.69.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLTR shares. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Wedbush upped their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Trading Up 2.1 %

The firm has a 50 day moving average of $59.81 and a two-hundred day moving average of $40.91. The stock has a market capitalization of $187.66 billion, a PE ratio of 411.92, a P/E/G ratio of 10.18 and a beta of 2.87.

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

Insider Buying and Selling at Palantir Technologies

In related news, Director Peter Thiel sold 3,989,204 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $36.94, for a total transaction of $147,361,195.76. Following the sale, the director now owns 42,683,569 shares of the company’s stock, valued at $1,576,731,038.86. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were 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 of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,605,711 shares of company stock worth $1,867,088,271. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. FMR LLC lifted its stake in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.