Palantir Technologies (NASDAQ:PLTR) Shares Up 1.3% - Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $125.65 and last traded at $125.03. 28,804,188 shares were traded during mid-day trading, a decline of 63% from the average session volume of 77,718,474 shares. The stock had previously closed at $123.39.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Mizuho upped their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Performance

The stock's fifty day moving average is $104.78 and its 200 day moving average is $88.97. The stock has a market cap of $290.24 billion, a P/E ratio of 652.75, a P/E/G ratio of 10.84 and a beta of 2.68.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $810,271,540.26. This represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the 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 completion of the sale, the director now directly owns 184,617 shares in the company, valued at $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 quarter, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. raised its position in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares during the period. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies in the 4th quarter worth about $3,233,000. American Institute for Advanced Investment Management LLP purchased a new stake in Palantir Technologies in the 4th quarter worth about $246,000. Sage Advisors LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $369,000. Finally, Diversified Investment Strategies LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $242,000. 45.65% of the stock is owned by hedge funds and other 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.