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Palantir Technologies (NASDAQ:PLTR) Reaches New 12-Month High After Analyst Upgrade

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Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price reached a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $155.00 to $178.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as high as $160.89 and last traded at $159.44, with a volume of 11320872 shares changing hands. The stock had previously closed at $158.61.

Several other brokerages have also recently weighed in on PLTR. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 target price on Palantir Technologies in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $96.45.

Check Out Our Latest Research Report on PLTR

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider owned 367,691 shares in the company, valued at $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. Company insiders own 9.23% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies during the 2nd quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new stake in Palantir Technologies during the second quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new stake in Palantir Technologies during the second quarter valued at $28,000. Family Legacy Financial Solutions LLC bought a new stake in Palantir Technologies in the second quarter worth $31,000. Finally, Tradewinds Capital Management LLC lifted its position in Palantir Technologies by 147.4% in the second quarter. Tradewinds Capital Management LLC now owns 235 shares of the company's stock worth $32,000 after buying an additional 140 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 2.3%

The company has a 50-day simple moving average of $139.76 and a 200 day simple moving average of $111.35. The company has a market cap of $364.96 billion, a P/E ratio of 671.09, a P/E/G ratio of 13.52 and a beta of 2.59.

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

Palantir Technologies Company Profile

(Get Free Report)

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.

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