Palantir Technologies (NASDAQ:PLTR) Shares Gap Up - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $130.74, but opened at $137.79. Palantir Technologies shares last traded at $137.89, with a volume of 17,536,730 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLTR shares. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Morgan Stanley lifted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Performance

The stock has a market capitalization of $325.12 billion, a price-to-earnings ratio of 598.24, a P/E/G ratio of 11.16 and a beta of 2.64. The business has a 50-day moving average of $125.24 and a 200-day moving average of $99.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business's revenue for the quarter was up 39.4% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,408,748 shares of company stock worth $180,327,603 over the last ninety days. Company insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the stock. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter worth approximately $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $27,000. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. 45.65% of the stock is currently 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.

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