Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.8% - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price was up 1.8% during trading on Thursday . The stock traded as high as $135.62 and last traded at $134.53. Approximately 23,542,052 shares changed hands during trading, a decline of 71% from the average daily volume of 82,588,027 shares. The stock had previously closed at $132.12.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 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, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

The firm's 50-day moving average price is $127.51 and its 200 day moving average price is $100.66. The company has a market cap of $316.54 billion, a price-to-earnings ratio of 583.34, a PEG ratio of 11.16 and a beta of 2.59.

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

Insiders Place Their Bets

In other news, insider David A. Glazer sold 3,418 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 $430,565.46. Following the transaction, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,407,948 shares of company stock valued at $180,262,603 over the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently made changes to their positions in PLTR. Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. purchased a new position in Palantir Technologies in the fourth quarter worth about $281,000. Sagespring Wealth Partners LLC raised its position in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $52,033,000. Finally, CX Institutional bought a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $62,000. 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.

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