Palantir Technologies (NYSE:PLTR) Hits New 12-Month High at $36.11

Palantir Technologies Inc. (NYSE:PLTR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $36.11 and last traded at $35.94, with a volume of 11029633 shares changing hands. The stock had previously closed at $35.59.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several analyst reports. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Palantir Technologies in a research note on Monday, September 9th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Raymond James raised their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Performance

The business’s fifty day simple moving average is $30.04 and its 200 day simple moving average is $25.66. The stock has a market cap of $81.70 billion, a price-to-earnings ratio of 304.03, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the company earned $0.01 earnings per share. The company’s revenue was up 27.2% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. The disclosure for this sale can be found here. Insiders sold a total of 5,377,238 shares of company stock worth $190,013,572 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Sanctuary Advisors LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $3,587,000. Strategic Investment Solutions Inc. IL bought a new stake in Palantir Technologies in the second quarter worth $125,000. Cetera Investment Advisers boosted its holdings in Palantir Technologies by 25.2% in the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after purchasing an additional 142,411 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Palantir Technologies during the second quarter valued at about $319,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.