Palantir Technologies (NYSE:PLTR) Shares Up 0.5% – Still a Buy?

by · The Markets Daily

Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Free Report) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $67.56 and last traded at $66.05. 53,839,900 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 58,839,926 shares. The stock had previously closed at $65.74.

Analyst Ratings Changes

Several research analysts have commented on the stock. DA Davidson boosted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their price target 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. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $35.64.

Get Our Latest Analysis on PLTR

Palantir Technologies Trading Up 0.5 %

The firm has a market capitalization of $150.46 billion, a PE ratio of 330.25 and a beta of 2.70. The firm has a 50-day moving average of $47.68 and a two-hundred day moving average of $34.33.

Palantir Technologies (NYSE:PLTR – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.74, for a total transaction of $674,800.00. Following the sale, the insider now owns 576,023 shares in the company, valued at $19,435,016.02. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,163,181 shares of company stock worth $1,603,288,758. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Franklin Resources Inc. raised its position in shares of Palantir Technologies by 102.3% in the 3rd quarter. Franklin Resources Inc. now owns 171,653 shares of the company’s stock valued at $6,385,000 after purchasing an additional 86,793 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Palantir Technologies in the third quarter valued at $23,403,000. Synovus Financial Corp boosted its stake in Palantir Technologies by 85.9% during the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company’s stock valued at $666,000 after acquiring an additional 8,270 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Palantir Technologies by 48.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company’s stock worth $652,000 after acquiring an additional 5,747 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter worth about $347,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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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