Palantir Technologies (NASDAQ:PLTR) Hits New 1-Year High - Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $134.32 and last traded at $132.73, with a volume of 4598829 shares traded. The stock had previously closed at $131.78.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PLTR shares. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.95.

Palantir Technologies Trading Up 0.9%

The firm's 50 day moving average is $106.69 and its two-hundred day moving average is $90.74. The stock has a market cap of $314.27 billion, a price-to-earnings ratio of 700.93, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm's revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,901,701 shares of company stock worth $370,407,533 in the last 90 days. 9.23% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the 1st quarter worth about $25,000. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth about $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth about $27,000. Finally, HighMark Wealth Management LLC grew its holdings 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 period. Hedge funds and other institutional investors own 45.65% of the company's stock.

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.