Palantir Technologies (NYSE:PLTR) Trading 0% Higher – Still a Buy?

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

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Argus started coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Citigroup upped their price objective 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. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Stock Performance

The firm’s 50 day moving average is $33.70 and its 200-day moving average is $27.27. The company has a market cap of $95.87 billion, a PE ratio of 256.07 and a beta of 2.72.

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

Insider Activity

In other news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,831,855 shares of company stock valued at $649,330,295 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. lifted its holdings in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.