Palantir Technologies (NYSE:PLTR) Reaches New 12-Month High – Time to Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $41.91 and last traded at $41.44, with a volume of 3078936 shares. The stock had previously closed at $41.45.

Analyst Ratings Changes

Several research analysts recently issued reports on PLTR shares. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Northland Securities began coverage on Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.29.

Palantir Technologies Stock Up 0.9 %

The stock has a market capitalization of $97.44 billion, a P/E ratio of 255.96 and a beta of 2.72. The firm’s 50 day simple moving average is $33.70 and its two-hundred day simple moving average is $27.27.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,831,855 shares of company stock valued at $649,330,295. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. grew its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.