Palantir Technologies (NYSE:PLTR) Hits New 12-Month High After Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTRGet Free Report)’s stock price hit a new 52-week high during trading on Wednesday after Mizuho raised their price target on the stock from $16.00 to $18.00. Mizuho currently has a neutral rating on the stock. Palantir Technologies traded as high as $22.59 and last traded at $22.58, with a volume of 40103661 shares. The stock had previously closed at $21.87.

Several other equities analysts have also recently weighed in on the stock. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the company from $13.00 to $22.00 in a research note on Tuesday. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday. Wedbush raised their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James raised their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $10.00 to $20.00 in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.25.

View Our Latest Stock Analysis on Palantir Technologies

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $19.81, for a total transaction of $79,240.00. Following the completion of the sale, the director now owns 208,783 shares of the company’s stock, valued at $4,135,991.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric H. Woersching sold 5,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the sale, the director now owns 52,233 shares of the company’s stock, valued at $1,044,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $19.81, for a total value of $79,240.00. Following the sale, the director now directly owns 208,783 shares of the company’s stock, valued at approximately $4,135,991.23. The disclosure for this sale can be found here. Insiders sold 1,219,877 shares of company stock valued at $24,960,001 in the last quarter. 13.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies in the fourth quarter worth $27,000. First United Bank & Trust bought a new position in shares of Palantir Technologies in the fourth quarter worth $26,000. Quilter Plc bought a new position in shares of Palantir Technologies in the first quarter worth $1,568,940,000. Truvestments Capital LLC increased its position in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. Finally, Bartlett & Co. LLC increased its position in shares of Palantir Technologies by 185.7% in the fourth quarter. Bartlett & Co. LLC now owns 2,000 shares of the company’s stock worth $35,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 34.21% of the company’s stock.

Palantir Technologies Price Performance

The company has a market cap of $53.33 billion, a P/E ratio of 272.36, a PEG ratio of 2.47 and a beta of 2.66. The stock has a 50-day moving average of $17.53 and a 200 day moving average of $17.01.

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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