Palantir Technologies (NYSE:PLTR) Hits New 12-Month High at $29.05

Palantir Technologies Inc. (NYSE:PLTR) hit a new 52-week high on Monday . The company traded as high as $29.05 and last traded at $29.01, with a volume of 18830467 shares trading hands. The stock had previously closed at $28.07.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PLTR shares. Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday, May 6th. DA Davidson lifted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. HSBC increased their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Royal Bank of Canada boosted their price target on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Trading Up 2.5 %

The company’s 50 day simple moving average is $23.60 and its 200 day simple moving average is $22.19. The stock has a market capitalization of $64.07 billion, a PE ratio of 240.50, a PEG ratio of 6.48 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. As a group, analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In other news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,375,179 shares of company stock valued at $240,025,973. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the stock. First United Bank & Trust purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $26,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% during the first 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $33,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.