Palantir Technologies (NASDAQ:PLTR) Sets New 1-Year High – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high on Tuesday . The stock 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 Upgrades and Downgrades

A number of brokerages recently commented on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Citigroup raised their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Stock Down 5.2 %

The stock has a 50 day moving average price of $84.70 and a 200 day moving average price of $58.51. The stock has a market capitalization of $242.09 billion, a price-to-earnings ratio of 559.35, a price-to-earnings-growth ratio of 12.81 and a beta of 2.81.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,301,387 shares of company stock valued at $575,821,045. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of large investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp grew its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth about $1,360,191,000. Finally, FMR LLC boosted its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.