Palantir Technologies (NYSE:PLTR) Shares Up 0.3% – Time to Buy?

by · The Markets Daily

Palantir Technologies Inc. (NYSE:PLTR – Get Free Report)’s stock price shot up 0.3% during mid-day trading on Monday . The company traded as high as $45.14 and last traded at $44.98. 15,740,149 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 56,372,910 shares. The stock had previously closed at $44.86.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Mizuho raised their target price on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Bank of America increased their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.86.

Check Out Our Latest Stock Analysis on PLTR

Palantir Technologies Trading Down 0.0 %

The firm has a market capitalization of $100.67 billion, a price-to-earnings ratio of 264.44 and a beta of 2.72. The stock has a fifty day moving average price of $37.36 and a 200-day moving average price of $29.17.

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

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,207,558 shares of company stock valued at $802,735,278. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Diversified Trust Co boosted its position in Palantir Technologies by 7.9% in the 1st quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock valued at $522,000 after buying an additional 1,669 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Palantir Technologies by 29.3% in the first quarter. Miracle Mile Advisors LLC now owns 13,590 shares of the company’s stock worth $313,000 after purchasing an additional 3,080 shares during the period. Claro Advisors LLC raised its holdings in Palantir Technologies by 18.0% during the 1st quarter. Claro Advisors LLC now owns 15,398 shares of the company’s stock worth $354,000 after purchasing an additional 2,346 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Palantir Technologies by 218.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,720 shares of the company’s stock valued at $1,397,000 after purchasing an additional 41,666 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of Palantir Technologies by 71.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 25,725 shares of the company’s stock valued at $592,000 after purchasing an additional 10,764 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

(Get Free Report)

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.

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