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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high during trading on Friday . The company traded as high as $159.93 and last traded at $159.70, with a volume of 13742049 shares. The stock had previously closed at $154.86.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group restated a “positive” rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Piper Sandler started coverage on Palantir Technologies in a report on Friday. They set an “overweight” rating and a $170.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.30.

Palantir Technologies Trading Up 2.5%

The business’s 50-day simple moving average is $137.03 and its two-hundred day simple moving average is $109.13. The company has a market capitalization of $374.75 billion, a PE ratio of 690.43, a PEG ratio of 13.56 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider David A. Glazer sold 30,812 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Company insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its stake in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $2,543,888,000. Invesco Ltd. raised its stake in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Institutional investors and hedge funds 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.