Palantir Technologies (NASDAQ:PLTR) Stock Price Up 4.1% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price rose 4.1% during mid-day trading on Friday . The company traded as high as $84.92 and last traded at $84.54. Approximately 26,703,388 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 65,847,680 shares. The stock had previously closed at $81.22.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLTR. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $80.00 price objective on the stock. Northland Securities upped their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $44.61.

Palantir Technologies Stock Up 1.6 %

The stock has a market capitalization of $187.91 billion, a PE ratio of 412.47, a PEG ratio of 7.29 and a beta of 2.82. The firm's fifty day moving average is $73.71 and its 200-day moving average is $50.84.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Palantir Technologies's quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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. Over the last ninety days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its holdings in shares of Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company's stock worth $1,336,000 after purchasing an additional 9,109 shares during the period. Truist Financial Corp increased its position in shares of Palantir Technologies by 21.5% in the second quarter. Truist Financial Corp now owns 449,356 shares of the company's stock worth $11,382,000 after acquiring an additional 79,618 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $3,587,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 36.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,753 shares of the company's stock valued at $102,000 after acquiring an additional 741 shares in the last quarter. Finally, Czech National Bank purchased a new stake in Palantir Technologies during the 3rd quarter worth $15,261,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.