Palantir Technologies (NASDAQ:PLTR) Shares Up 2.3% - Still a Buy?

Key Points

• Palantir Technologies' stock price increased by 2.3%, trading at $184.63 after reaching a high of $186.17 during the session, with a significantly lower trading volume compared to its average.
• Analysts have varying ratings on Palantir's stock, with five analysts giving a "Buy," fifteen a "Hold," and two a "Sell," while the consensus price target is $141.28.
• Insider selling activity is notable, with sales totaling approximately $240 million over the last quarter, reducing ownership stakes for some insiders.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price shot up 2.3% during trading on Friday . The stock traded as high as $186.17 and last traded at $184.63. 34,630,411 shares traded hands during trading, a decline of 59% from the average session volume of 84,110,250 shares. The stock had previously closed at $180.48.

Analysts Set New Price Targets

PLTR has been the topic of a number of research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday, October 8th. Mizuho set a $165.00 price target on Palantir Technologies in a research note on Monday, September 15th. Cantor Fitzgerald upped their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $141.28.

Palantir Technologies Stock Up 2.3%

The stock has a market capitalization of $438.01 billion, a PE ratio of 615.45, a P/E/G ratio of 9.51 and a beta of 2.60. The firm has a 50 day moving average price of $171.20 and a 200 day moving average price of $145.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director directly owned 62,087 shares of the company's stock, valued at $11,572,395.93. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the first quarter valued at $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the first quarter valued at $27,000. Finally, Briaud Financial Planning Inc bought a new position in Palantir Technologies during the second quarter valued at $27,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.

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