Palantir Technologies (NASDAQ:PLTR) Trading Up 1.3% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price shot up 1.3% on Thursday . The company traded as high as $140.36 and last traded at $139.96. 58,100,428 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 81,096,965 shares. The stock had previously closed at $138.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLTR. DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Price Performance

The business's 50 day moving average price is $118.64 and its 200 day moving average price is $96.13. The firm has a market cap of $330.29 billion, a PE ratio of 608.52, a PEG ratio of 11.66 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 EPS. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the 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 completion of the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 over the last ninety days. Insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new position in Palantir Technologies during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $31,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $33,000. 45.65% of the stock is currently 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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