Palantir Technologies (NASDAQ:PLTR) Reaches New 52-Week High – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $82.02 and last traded at $78.45, with a volume of 27824266 shares traded. The stock had previously closed at $80.55.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday. They set a “neutral” rating and a $80.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.00.

Palantir Technologies Stock Performance

The company’s 50 day simple moving average is $59.06 and its 200-day simple moving average is $40.39. The firm has a market capitalization of $178.35 billion, a PE ratio of 391.47, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The trade was a 7.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,605,711 shares of company stock valued at $1,867,088,271 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PLTR. Walter & Keenan Wealth Management LLC IN ADV lifted its position in Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC boosted its stake in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC increased its position in Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares during the last quarter. Truvestments Capital LLC lifted its holdings in Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the period. Finally, LCM Capital Management Inc boosted its position in Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. 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.