Palantir Technologies (NASDAQ:PLTR) Shares Up 1.2% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares traded up 1.2% on Thursday . The stock traded as high as $132.85 and last traded at $131.61. 31,414,658 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 79,237,109 shares. The stock had previously closed at $130.01.

Analyst Ratings Changes

Several equities research analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson raised their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Price Performance

The company has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The business has a fifty day moving average price of $110.01 and a 200 day moving average price of $92.16.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 3,936 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $495,817.92. Following the completion of the sale, the insider now directly owns 363,755 shares of the company's stock, valued at approximately $45,822,217.35. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter worth about $27,000. 1248 Management LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $27,000. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. Finally, Cornerstone Planning Group LLC increased 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 during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.