Palantir Technologies (NASDAQ:PLTR) Stock Price Up 5.5% Following Insider Buying Activity

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 5.5% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $125.32 and last traded at $124.95. Approximately 45,268,100 shares traded hands during trading, a decline of 40% from the average daily volume of 75,909,971 shares. The stock had previously closed at $118.46.

Specifically, insider Heather A. Planishek purchased 10,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the transaction, the insider now directly owns 58,006 shares of the company's stock, valued at $6,736,816.84. This represents a 20.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLTR shares. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment 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 stock has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Trading Up 6.4%

The company has a 50-day moving average price of $94.80 and a two-hundred day moving average price of $83.05. The stock has a market capitalization of $295.73 billion, a P/E ratio of 663.67, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Mather Group LLC. increased its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after acquiring an additional 448 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $3,233,000. Kieckhefer Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $11,769,000. Finally, Grange Capital LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $5,829,000. 45.65% of the stock is 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.

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