Palantir Technologies (NASDAQ:PLTR) Trading 3.1% Higher - Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 3.1% during mid-day trading on Monday . The stock traded as high as $144.86 and last traded at $141.70. 36,264,119 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 80,854,895 shares. The stock had previously closed at $137.40.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Finally, Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Five 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 MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $86.30.

Palantir Technologies Trading Up 3.8%

The firm has a market capitalization of $336.44 billion, a PE ratio of 750.55, a PEG ratio of 10.84 and a beta of 2.64. The stock has a 50 day simple moving average of $115.48 and a 200 day simple moving average of $95.01.

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

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. Insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies during the first quarter worth $27,000. Finally, HighMark Wealth Management LLC boosted its stake in 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 buying an additional 166 shares during the last quarter. 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.

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