Palantir Technologies (NASDAQ:PLTR) Trading Up 0.6% - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price shot up 0.6% during mid-day trading on Wednesday . The stock traded as high as $127.11 and last traded at $126.35. 23,698,313 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 76,917,774 shares. The stock had previously closed at $125.59.

Analysts Set New Price Targets

A number of analysts recently commented on PLTR shares. Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. 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 report on Tuesday, May 6th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a 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 assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Stock Up 0.5%

The company has a market capitalization of $295.98 billion, a PE ratio of 664.77, a P/E/G ratio of 10.84 and a beta of 2.68. The firm's 50 day simple moving average is $100.49 and its 200-day simple moving average is $86.30.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek purchased 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the transaction, the insider now owns 58,006 shares in the company, valued at $6,736,816.84. This represents a 20.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,964,290 shares of company stock worth $250,504,866. 9.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the business. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter worth $25,000. Roxbury Financial LLC bought a new stake in Palantir Technologies in the 4th quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in Palantir Technologies in the 1st quarter worth $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth about $27,000. Finally, First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. 45.65% of the stock is currently owned by institutional investors.

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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