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

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) reached a new 52-week high during trading on Friday . The company 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 Ratings Changes

Several research analysts have recently weighed in on PLTR shares. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Wedbush boosted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Northland Securities assumed coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a "market perform" rating and a $35.00 price objective for the company. Finally, Raymond James lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.86.

Palantir Technologies Stock Up 3.0 %

The firm has a 50-day moving average price of $36.60 and a 200 day moving average price of $28.62. The firm has a market capitalization of $99.90 billion, a PE ratio of 372.92 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR - Get Free Report) 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). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analysts' expectations of $653.23 million. During the same quarter last year, the business earned $0.01 earnings per share. The business's revenue was up 27.2% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

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 transaction of $321,391.90. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company's stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 over the last 90 days. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock valued at $35,000 after purchasing an additional 1,105 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.