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

Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high on Tuesday . The company traded as high as $121.09 and last traded at $124.63, with a volume of 1915548 shares traded. The stock had previously closed at $119.16.

Analyst Ratings Changes

Several analysts recently issued reports on PLTR shares. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Performance

The firm has a fifty day simple moving average of $82.84 and a 200 day simple moving average of $57.43. The company has a market capitalization of $283.89 billion, a PE ratio of 655.93, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,339,480 shares of company stock worth $578,221,285 over the last three months. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Continuum Advisory LLC grew its position in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its stake in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC grew its holdings in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its position in shares of Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after purchasing an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during 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.