Palantir Technologies (NASDAQ:PLTR) Shares Up 0.5% - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares were up 0.5% during mid-day trading on Monday . The company traded as high as $120.94 and last traded at $117.92. Approximately 44,497,400 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 75,840,497 shares. The stock had previously closed at $117.30.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Northland Securities lifted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 4th. DA Davidson upped their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho lifted their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Price Performance

The business has a fifty day simple moving average of $95.75 and a 200 day simple moving average of $83.36. The firm has a market cap of $301.70 billion, a price-to-earnings ratio of 677.08, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its 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. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the firm'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 completion of the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Mechanics Financial Corp acquired a new position in Palantir Technologies in the 1st quarter worth about $25,000. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter worth $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the period. Finally, HighMark Wealth Management LLC raised its stake in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. 45.65% of the stock is currently owned by institutional investors.

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.