Palantir Technologies (NASDAQ:PLTR) Trading Up 4.1% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTRGet Free Report) shares rose 4.1% during mid-day trading on Friday . The stock traded as high as $195.00 and last traded at $193.38. Approximately 76,373,450 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 78,968,586 shares. The stock had previously closed at $185.69.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLTR. CICC Research lifted their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Daiwa Capital Markets lifted their price objective on shares of Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Morgan Stanley increased their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.28.

Check Out Our Latest Research Report on PLTR

Palantir Technologies Trading Up 4.1%

The firm’s 50-day moving average price is $179.38 and its 200 day moving average price is $164.99. The company has a market capitalization of $460.91 billion, a price-to-earnings ratio of 460.44, a PEG ratio of 6.87 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at approximately $100,435,312.50. This represents a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,008,844 shares of company stock worth $164,750,951 over the last quarter. 9.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Occidental Asset Management LLC lifted its stake in shares of Palantir Technologies by 2.8% in the 3rd quarter. Occidental Asset Management LLC now owns 1,964 shares of the company’s stock valued at $358,000 after acquiring an additional 53 shares during the last quarter. Gallacher Capital Management LLC raised its position in Palantir Technologies by 2.2% in the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock valued at $447,000 after purchasing an additional 53 shares during the last quarter. Bare Financial Services Inc boosted its stake in shares of Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Lionshead Wealth Management LLC grew its holdings in shares of Palantir Technologies by 0.4% during the third quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company’s stock worth $2,395,000 after purchasing an additional 56 shares during the last quarter. Finally, Ellenbecker Investment Group grew its holdings in shares of Palantir Technologies by 3.6% during the third quarter. Ellenbecker Investment Group now owns 1,619 shares of the company’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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