Palantir Technologies (NASDAQ:PLTR) Trading Up 1.6% - Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 1.6% during trading on Friday . The company traded as high as $135.62 and last traded at $134.27. 41,812,483 shares changed hands during trading, a decline of 50% from the average session volume of 82,906,073 shares. The stock had previously closed at $132.12.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLTR. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Mizuho lifted their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Trading Up 1.6%

The company has a 50 day moving average price of $128.47 and a 200 day moving average price of $101.48. The company has a market capitalization of $316.85 billion, a P/E ratio of 583.76, a P/E/G ratio of 11.47 and a beta of 2.59.

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

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,497 shares of company stock worth $186,110,685 over the last three months. 9.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently modified their holdings of the stock. Fiduciary Financial Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $347,000. McAlister Sweet & Associates Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $913,000. Crumly & Associates Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $536,000. Harbor Investment Advisory LLC lifted its position in shares of Palantir Technologies by 3.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 6,188 shares of the company's stock valued at $844,000 after acquiring an additional 202 shares during the period. Finally, Kera Capital Partners Inc. lifted its position in shares of Palantir Technologies by 38.9% during the 2nd quarter. Kera Capital Partners Inc. now owns 3,964 shares of the company's stock valued at $540,000 after acquiring an additional 1,111 shares during the period. 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.