Palantir Technologies (NYSE:PLTR) Reaches New 1-Year High – Here’s What Happened

Shares of Palantir Technologies Inc. (NYSE:PLTR) hit a new 52-week high during trading on Friday . The stock traded as high as $44.63 and last traded at $44.40, with a volume of 9647488 shares trading hands. The stock had previously closed at $43.56.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Performance

The company’s 50-day moving average price is $36.60 and its 200 day moving average price is $28.62. The stock has a market cap of $100.69 billion, a PE ratio of 264.54 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business 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%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. International Assets Investment Management LLC lifted its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. grew its stake in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.