Palantir Technologies (NYSE:PLTR) Hits New 1-Year High at $33.89

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Performance

The firm’s 50-day simple moving average is $29.16 and its 200 day simple moving average is $25.27. The company has a market capitalization of $77.38 billion, a PE ratio of 289.58, a price-to-earnings-growth ratio of 5.35 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly 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). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now owns 29,817 shares in the company, valued at $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction 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 completion of the transaction, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 698,649 shares of company stock valued at $21,453,996. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vantage Financial Partners LLC lifted its stake in shares of Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Principal Securities Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $245,000. Versor Investments LP purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $383,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Palantir Technologies by 412.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 17,380 shares of the company’s stock worth $298,000 after purchasing an additional 13,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after purchasing an additional 228,428 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.