Palantir Technologies (NASDAQ:PLTR) Trading Up 1.6% - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price shot up 1.6% during trading on Wednesday . The company traded as high as $133.49 and last traded at $130.11. 46,402,345 shares traded hands during trading, a decline of 39% from the average session volume of 76,352,134 shares. The stock had previously closed at $128.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLTR shares. Mizuho boosted their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Morgan Stanley increased their price objective 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. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Performance

The business's 50 day moving average price is $97.69 and its two-hundred day moving average price is $84.26. The company has a market capitalization of $299.54 billion, a price-to-earnings ratio of 673.35, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the company posted $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,964,290 shares of company stock valued at $250,504,866. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC grew its position in Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares in the last quarter. Delta Investment Management LLC raised its position in Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after buying an additional 90 shares during the period. Sovran Advisors LLC raised its position in Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the period. Lodestone Wealth Management LLC lifted its stake in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the period. 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.