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

Palantir Technologies Inc. (NYSE:PLTR)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $60.50 and last traded at $60.50, with a volume of 4215635 shares trading hands. The stock had previously closed at $58.39.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLTR. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

The stock has a market capitalization of $134.08 billion, a price-to-earnings ratio of 299.36 and a beta of 2.70. The business has a fifty day simple moving average of $40.71 and a 200 day simple moving average of $30.98.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on 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 completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Estate Counselors LLC boosted its stake in Palantir Technologies by 333.2% in the third quarter. Estate Counselors LLC now owns 148,405 shares of the company’s stock valued at $5,521,000 after buying an additional 114,150 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Palantir Technologies by 22.0% during the third quarter. Daiwa Securities Group Inc. now owns 321,335 shares of the company’s stock worth $11,953,000 after buying an additional 58,030 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Palantir Technologies during the third quarter worth $272,000. Centaurus Financial Inc. lifted its stake in shares of Palantir Technologies by 38.8% in the 3rd quarter. Centaurus Financial Inc. now owns 23,538 shares of the company’s stock valued at $876,000 after acquiring an additional 6,580 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Palantir Technologies by 70.3% during the 3rd quarter. Larson Financial Group LLC now owns 10,756 shares of the company’s stock valued at $400,000 after acquiring an additional 4,441 shares in 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.