Palantir Technologies (NASDAQ:PLTR) Trading 8.8% Higher – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 8.8% during trading on Monday . The company traded as high as $194.93 and last traded at $193.61. 87,299,719 shares were traded during mid-day trading, an increase of 5% from the average session volume of 83,386,852 shares. The stock had previously closed at $177.93.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLTR. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Daiwa Capital Markets upped their target price on Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group increased their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald boosted their price target on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.45.

Palantir Technologies Stock Up 8.8%

The company has a market cap of $459.31 billion, a P/E ratio of 460.99, a price-to-earnings-growth ratio of 6.90 and a beta of 2.63. The stock has a 50 day moving average price of $177.73 and a two-hundred day moving average price of $154.47.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the stock. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $450,000. Bison Wealth LLC raised its position in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC lifted its stake in Palantir Technologies by 38.0% during the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Palantir Technologies by 19.2% in the 1st quarter. Ballentine Partners LLC now owns 21,305 shares of the company’s stock valued at $1,798,000 after purchasing an additional 3,427 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Palantir Technologies by 2.4% during the 1st quarter. New York State Common Retirement Fund now owns 1,077,741 shares of the company’s stock worth $90,961,000 after buying an additional 25,200 shares in 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.