Palantir Technologies (NASDAQ:PLTR) Reaches New 1-Year High – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high on Monday . The stock traded as high as $82.02 and last traded at $78.45, with a volume of 27824266 shares changing hands. The stock had previously closed at $80.55.

Analyst Ratings Changes

Several research firms have issued reports on PLTR. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Northland Securities lifted their target price on shares of 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, eleven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.00.

Palantir Technologies Price Performance

The company has a market cap of $178.35 billion, a P/E ratio of 391.47, a PEG ratio of 10.18 and a beta of 2.87. The firm’s 50-day moving average is $59.06 and its two-hundred day moving average is $40.39.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for 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%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the sale, the director now owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. This represents a 7.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,605,711 shares of company stock worth $1,867,088,271. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC increased its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.