Palantir Technologies (NASDAQ:PLTR) Trading 2.1% Higher - Still a Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 2.1% on Tuesday . The stock traded as high as $127.88 and last traded at $125.88. 26,942,296 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 77,677,571 shares. The stock had previously closed at $123.31.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 3.5%

The stock's 50 day moving average price is $105.30 and its two-hundred day moving average price is $89.40. The firm has a market capitalization of $298.84 billion, a PE ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68.

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

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,708 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $215,874.12. Following the completion of the sale, the insider now owns 34,468 shares of the company's stock, valued at approximately $4,356,410.52. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $27,000. 1248 Management LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the period. Institutional investors own 45.65% of the company's stock.

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.