Palantir Technologies (NYSE:PLTR) Sets New 52-Week High at $37.46

Shares of Palantir Technologies Inc. (NYSE:PLTR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $37.46 and last traded at $37.35, with a volume of 13233424 shares traded. The stock had previously closed at $37.20.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLTR shares. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Price Performance

The firm has a market capitalization of $84.20 billion, a P/E ratio of 311.11 and a beta of 2.72. The stock’s 50-day simple moving average is $30.57 and its two-hundred day simple moving average is $25.92.

Palantir Technologies (NYSE:PLTR) last posted its quarterly 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 company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly 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 SEC, which is available through this hyperlink. Also, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. Insiders have sold a total of 5,383,238 shares of company stock valued at $190,231,672 over the last quarter. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. West Paces Advisors Inc. grew its position in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. 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.