Palantir Technologies (NYSE:PLTR) Stock Price Up 1% – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 1% during trading on Wednesday . The stock traded as high as $43.44 and last traded at $43.37. Approximately 10,625,551 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 56,586,867 shares. The stock had previously closed at $42.94.

Analyst Ratings Changes

Several analysts have commented on the company. Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Wedbush lifted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. DA Davidson boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Stock Performance

The firm has a fifty day moving average of $35.87 and a 200 day moving average of $28.28. The firm has a market capitalization of $94.80 billion, a PE ratio of 255.13 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the company posted $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Greater Midwest Financial Group LLC raised its holdings in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the period. HBW Advisory Services LLC raised its stake in Palantir Technologies by 3.6% during the third quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock worth $379,000 after acquiring an additional 354 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in Palantir Technologies by 0.5% in the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after acquiring an additional 360 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Palantir Technologies by 2.6% in the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after acquiring an additional 379 shares during the period. Finally, Sage Capital Advisors llc grew its holdings in shares of Palantir Technologies by 1.8% during the third quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock valued at $856,000 after purchasing an additional 400 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.