Palantir Technologies (NYSE:PLTR) Sets New 12-Month High at $37.46

Palantir Technologies Inc. (NYSE:PLTR)’s stock price reached a new 52-week high on Monday . The company traded as high as $37.46 and last traded at $37.35, with a volume of 13233424 shares trading hands. The stock had previously closed at $37.20.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PLTR shares. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Palantir Technologies in a report on Monday, September 9th. DA Davidson upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Trading Up 1.1 %

The stock has a market capitalization of $84.20 billion, a PE ratio of 311.11 and a beta of 2.72. The firm’s 50-day simple moving average is $30.57 and its two-hundred day simple moving average is $25.92.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,383,238 shares of company stock valued at $190,231,672. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC increased its stake in shares of Palantir Technologies by 0.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after buying an additional 379 shares during the last quarter. Gradient Investments LLC grew its stake in Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares during the last quarter. Apella Capital LLC grew its stake in Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after buying an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in Palantir Technologies by 1.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after buying an additional 416 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.