Palantir Technologies (NASDAQ:PLTR) Trading Up 3.3% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price was up 3.3% during mid-day trading on Friday . The stock traded as high as $71.34 and last traded at $71.52. Approximately 22,277,686 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 69,519,922 shares. The stock had previously closed at $69.24.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Wedbush upped their target price 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. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday. They issued a "neutral" rating and a $72.00 target price on the stock. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $43.78.

Palantir Technologies Trading Up 3.7 %

The stock has a market cap of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The stock has a 50 day simple moving average of $70.49 and a 200 day simple moving average of $47.32.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm's stock in a transaction on Friday, December 6th. The stock was 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. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares of the company's stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Financial Management Professionals Inc. grew its stake in Palantir Technologies by 171.5% in the 4th quarter. Financial Management Professionals Inc. now owns 543 shares of the company's stock valued at $41,000 after purchasing an additional 343 shares during the period. Trivant Custom Portfolio Group LLC increased its position in shares of Palantir Technologies by 313.3% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 470 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth $25,000. Institutional investors own 45.65% of the company's stock.

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.