Palantir Technologies (NYSE:PLTR) Hits New 1-Year High – Time to Buy?

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

Analysts Set New Price Targets

Several equities analysts have commented on PLTR shares. Wedbush increased their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Price Performance

The stock has a market cap of $134.08 billion, a price-to-earnings ratio of 299.36 and a beta of 2.70. The stock’s 50 day simple moving average is $40.71 and its two-hundred day simple moving average is $30.98.

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

Insider Buying and Selling at Palantir Technologies

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 transaction 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 approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’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 completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 11,373 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the transaction, the insider now directly owns 600,633 shares in the company, valued at $19,370,414.25. The trade was 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 worth $1,041,851,557 over the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares in the last quarter. Heritage Wealth Management Inc. CA bought a new position in Palantir Technologies in the 3rd quarter valued at $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the third quarter worth $6,339,000. Finally, Seven Grand Managers LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at $930,000. Institutional investors 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.