Palantir Technologies (NYSE:PLTR) Reaches New 52-Week High at $33.89

Palantir Technologies Inc. (NYSE:PLTR) shares reached a new 52-week high during trading on Monday . The stock traded as high as $33.89 and last traded at $33.81, with a volume of 26845477 shares. The stock had previously closed at $30.33.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research analyst reports. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Raymond James boosted their price target on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $25.21.

Palantir Technologies Stock Performance

The firm has a market capitalization of $75.18 billion, a P/E ratio of 281.77, a PEG ratio of 5.35 and a beta of 2.72. The firm has a 50-day moving average of $28.81 and a 200-day moving average of $25.11.

Palantir Technologies (NYSE:PLTR) last announced 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 company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 702,242 shares of company stock worth $21,540,409. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the company. Evolution Wealth Advisors LLC lifted its stake in shares of Palantir Technologies by 0.5% during the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after buying an additional 360 shares during the period. First Horizon Advisors Inc. lifted its position in Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after purchasing an additional 379 shares during the period. Gradient Investments LLC lifted its position in Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after purchasing an additional 406 shares during the period. Apella Capital LLC lifted its position in Palantir Technologies by 3.7% during the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after purchasing an additional 416 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after purchasing an additional 416 shares during the period. 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.