Palantir Technologies (NYSE:PLTR) Sets New 12-Month High – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.63 and last traded at $44.40, with a volume of 9647488 shares. The stock had previously closed at $43.56.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTR. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Up 3.0 %

The stock’s 50 day moving average price is $36.86 and its 200-day moving average price is $28.81. The stock has a market capitalization of $99.90 billion, a PE ratio of 373.83 and a beta of 2.72.

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

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock valued at $646,951,347 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter worth about $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Creekmur Asset Management LLC lifted its holdings in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after acquiring an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth about $30,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.