Palantir Technologies (NYSE:PLTR) Sets New 52-Week High at $21.85

Palantir Technologies Inc. (NYSE:PLTR) shares hit a new 52-week high on Tuesday . The stock traded as high as $21.85 and last traded at $20.59, with a volume of 20348762 shares trading hands. The stock had previously closed at $21.34.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Palantir Technologies from $6.00 to $10.00 and gave the stock a “sell” rating in a research note on Monday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of Palantir Technologies in a research note on Monday, September 18th. Morgan Stanley lowered Palantir Technologies from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $8.00 to $9.00 in a research note on Thursday, August 31st. DA Davidson upped their price objective on Palantir Technologies from $8.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $7.00 to $9.00 in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.25.

Palantir Technologies Stock Down 2.6 %

The company’s 50 day simple moving average is $16.78 and its two-hundred day simple moving average is $15.56. The company has a market capitalization of $45.24 billion, a price-to-earnings ratio of 355.67, a P/E/G ratio of 3.47 and a beta of 2.70.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexander D. Moore sold 21,900 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $14.70, for a total value of $321,930.00. Following the completion of the sale, the director now owns 1,721,219 shares of the company’s stock, valued at $25,301,919.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 21,900 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $14.70, for a total value of $321,930.00. Following the completion of the transaction, the director now owns 1,721,219 shares of the company’s stock, valued at $25,301,919.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $15.17, for a total transaction of $106,190.00. Following the sale, the director now directly owns 57,233 shares in the company, valued at $868,224.61. The disclosure for this sale can be found here. Insiders have sold a total of 444,521 shares of company stock worth $6,873,874 in the last ninety days. 13.96% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Redwood Wealth Management Group LLC grew its holdings in Palantir Technologies by 2.1% in the second quarter. Redwood Wealth Management Group LLC now owns 31,095 shares of the company’s stock valued at $477,000 after purchasing an additional 625 shares during the period. Wealth Architects LLC boosted its holdings in shares of Palantir Technologies by 1.7% during the 2nd quarter. Wealth Architects LLC now owns 38,700 shares of the company’s stock worth $593,000 after purchasing an additional 632 shares during the last quarter. Golden State Equity Partners grew its position in shares of Palantir Technologies by 4.6% in the second quarter. Golden State Equity Partners now owns 14,776 shares of the company’s stock valued at $227,000 after purchasing an additional 647 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Palantir Technologies by 2.0% in the second quarter. Bank of Nova Scotia now owns 34,450 shares of the company’s stock valued at $528,000 after purchasing an additional 682 shares during the last quarter. Finally, Founders Financial Securities LLC lifted its position in Palantir Technologies by 4.7% during the third quarter. Founders Financial Securities LLC now owns 15,369 shares of the company’s stock worth $246,000 after buying an additional 690 shares in the last quarter. 34.21% 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 in the United States to assist in counterterrorism investigations and operations. 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.