Palantir Technologies (NYSE:PLTR) Trading 0% Higher – Time to Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s share price traded up 0% during trading on Friday . The stock traded as high as $44.38 and last traded at $43.53. 24,910,396 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 57,191,227 shares. The stock had previously closed at $43.52.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Argus assumed coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 target price on the stock. The Goldman Sachs Group raised their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wedbush boosted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.29.

Palantir Technologies Stock Performance

The company’s fifty day moving average price is $34.08 and its two-hundred day moving average price is $27.42. The firm has a market capitalization of $97.44 billion, a PE ratio of 255.96 and a beta of 2.72.

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

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,831,855 shares of company stock valued at $649,330,295 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently made changes to their positions in the company. Fiduciary Alliance LLC grew its holdings in Palantir Technologies by 16.2% during the 3rd quarter. Fiduciary Alliance LLC now owns 115,375 shares of the company’s stock valued at $4,292,000 after purchasing an additional 16,050 shares in the last quarter. ORG Partners LLC grew its stake in shares of Palantir Technologies by 11.2% during the third quarter. ORG Partners LLC now owns 38,326 shares of the company’s stock valued at $1,426,000 after acquiring an additional 3,853 shares in the last quarter. Affinity Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $4,586,000. Stablepoint Partners LLC lifted its stake in shares of Palantir Technologies by 22.0% in the third quarter. Stablepoint Partners LLC now owns 9,520 shares of the company’s stock worth $354,000 after acquiring an additional 1,715 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in Palantir Technologies in the third quarter valued at about $206,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.