Palantir Technologies (NASDAQ:PLTR) Trading Up 3.1% - Here's What Happened

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) traded up 3.1% during trading on Monday . The stock traded as high as $146.88 and last traded at $146.55. 27,285,221 shares traded hands during trading, a decline of 67% from the average session volume of 83,115,227 shares. The stock had previously closed at $142.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PLTR shares. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.37.

Palantir Technologies Stock Performance

The company's fifty day moving average price is $131.31 and its 200-day moving average price is $104.45. The stock has a market cap of $351.98 billion, a P/E ratio of 648.48, a price-to-earnings-growth ratio of 12.13 and a beta of 2.59.

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

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 3,418 shares of Palantir Technologies 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 completion of the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% 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 worth $186,222,373 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $31,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $33,000. 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.