Palantir Technologies (NYSE:PLTR) Hits New 52-Week High – Here’s What Happened

by · The Cerbat Gem

Palantir Technologies Inc. (NYSE:PLTR – Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $60.50 and last traded at $60.50, with a volume of 4215635 shares changing hands. The stock had previously closed at $58.39.

Analysts Set New Price Targets

A number of analysts have weighed in on PLTR shares. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Mizuho boosted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Wedbush raised their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.71.

Check Out Our Latest Analysis on Palantir Technologies

Palantir Technologies Price Performance

The firm has a market capitalization of $135.15 billion, a P/E ratio of 291.96 and a beta of 2.70. The stock’s fifty day simple moving average is $40.13 and its 200 day simple moving average is $30.71.

Palantir Technologies (NYSE:PLTR – Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,462,878 shares of company stock worth $1,043,597,696. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LPL Financial LLC grew its position in Palantir Technologies by 22.8% during the 3rd quarter. LPL Financial LLC now owns 3,100,520 shares of the company’s stock worth $115,339,000 after purchasing an additional 575,790 shares during the period. Trustmark National Bank Trust Department purchased a new stake in shares of Palantir Technologies in the third quarter worth about $207,000. Advisors Asset Management Inc. grew its holdings in Palantir Technologies by 76.0% during the third quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock worth $1,996,000 after acquiring an additional 23,178 shares during the period. Kirtland Hills Capital Management LLC raised its position in Palantir Technologies by 128.2% during the third quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock valued at $1,016,000 after acquiring an additional 15,344 shares in the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in Palantir Technologies during the third quarter valued at approximately $927,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

(Get Free Report)

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.

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