Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.4% - Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 1.4% on Thursday . The company traded as high as $153.15 and last traded at $152.96. Approximately 20,075,278 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 83,114,338 shares. The stock had previously closed at $150.91.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $116.00 to $135.00 in a research note on Wednesday. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $91.37.

Palantir Technologies Stock Performance

The firm has a 50 day simple moving average of $132.92 and a two-hundred day simple moving average of $105.08. The stock has a market cap of $363.40 billion, a P/E ratio of 669.52, a P/E/G ratio of 12.68 and a beta of 2.59.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies 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 transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,297 shares of company stock valued at $186,222,373 in the last ninety days. Company insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $25,000. Signature Resources Capital Management LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $27,000. Finally, Family Legacy Financial Solutions LLC bought a new stake in Palantir Technologies during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

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.

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