Palantir Technologies (NASDAQ:PLTR) Shares Up 4.9% - Here's What Happened

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price was up 4.9% on Monday . The stock traded as high as $138.55 and last traded at $137.12. Approximately 38,263,172 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 98,778,289 shares. The stock had previously closed at $130.74.

Analysts Set New Price Targets

Several research analysts have weighed in on PLTR shares. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Up 4.3%

The company's 50 day moving average price is $125.24 and its 200-day moving average price is $99.81. The stock has a market cap of $321.70 billion, a P/E ratio of 592.70, a P/E/G ratio of 11.16 and a beta of 2.64.

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 firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,748 shares of company stock valued at $180,327,603. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $281,000. Sagespring Wealth Partners LLC grew its holdings in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $52,033,000. Finally, CX Institutional acquired a new position in shares of Palantir Technologies during the first quarter valued at about $62,000. Institutional investors own 45.65% of the company's stock.

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.