Palantir Technologies (NYSE:PLTR) Trading Up 4.7% - Still a Buy?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s stock price traded up 4.7% during mid-day trading on Tuesday . The company traded as high as $40.79 and last traded at $40.70. 22,020,734 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 56,983,598 shares. The stock had previously closed at $38.89.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLTR. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. Northland Securities began coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a "market perform" rating and a $35.00 price target on the stock. Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $27.29.

Remove Ads

Palantir Technologies Stock Up 6.6 %

The business's 50 day moving average price is $32.73 and its 200-day moving average price is $26.92. The company has a market cap of $92.83 billion, a PE ratio of 339.19 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business's quarterly revenue was up 27.2% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares of the company's stock, valued at approximately $2,000,059.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,831,855 shares of company stock worth $649,330,295 in the last three months. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. boosted its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company's stock valued at $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the 2nd quarter worth $30,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company's stock worth $31,000 after buying an additional 691 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.