Palantir Technologies (NASDAQ:PLTR) Hits New 12-Month High on Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) shares reached a new 52-week high during mid-day trading on Thursday after Citigroup raised their price target on the stock from $42.00 to $110.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $108.19 and last traded at $107.09, with a volume of 41032045 shares trading hands. The stock had previously closed at $101.36.

A number of other analysts have also recently commented on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $69.44.

Insider Transactions 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 Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth $28,000. Finally, Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 5.6 %

The company’s 50 day moving average price is $75.56 and its two-hundred day moving average price is $52.26. The firm has a market cap of $243.75 billion, a PE ratio of 534.29, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data 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 business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

About Palantir Technologies

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.