Palantir Technologies (NYSE: PLTR) has been one of the market's hottest stocks this year, with its price more than doubling. However, it is also one of the more divisive names in the market, largely due to its valuation. Let's take a look at both the bull and bear cases with Palantir to help determine whether the stock is a buy at current levels.

Peter Thiel sold almost $600 million of Palantir Technologies Inc. stock this week, bringing his total disposals this year to more than $1 billion.

Palantir Chairman Peter Thiel just sold big blocks of shares of the data-analytics firm, and he still has a substantial amount of stock to sell. Thiel sold 16,178,415 Palantir shares from Tuesday through Thursday for a total of $597 million,

Palantir’s stock has outperformed the S&P 500 by a wide margin in recent years, but Raymond James has concerns about the stock’s valuation.

Palantir Technologies ( PLTR 0.60%) continues to rack up new contracts. The latest is a deal with the U.S. government to bring artificial intelligence (AI) capabilities to the various military branches through its Maven Smart System. The contract will pay Palantir up to $99.8 million over the next five years.