Palantir Technologies (NASDAQ:PLTR) Shares Up 4.1% - Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 4.1% during mid-day trading on Friday . The company traded as high as $84.92 and last traded at $84.54. Approximately 26,703,388 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 65,847,680 shares. The stock had previously closed at $81.22.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLTR shares. Argus lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday. Finally, Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $69.44.

Palantir Technologies Trading Down 2.7 %

The stock has a 50 day simple moving average of $74.85 and a 200 day simple moving average of $51.92. The firm has a market capitalization of $230.03 billion, a PE ratio of 506.13, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company's revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,153,753 shares of company stock worth $1,287,042,675 in the last three months. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently bought and sold shares of the business. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at about $31,000. 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.