Palantir Technologies (NASDAQ:PLTR) Sets New 52-Week High - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $149.58 and last traded at $149.15, with a volume of 81498736 shares changing hands. The stock had previously closed at $142.10.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush set a $160.00 target price on shares of Palantir Technologies in a report on Thursday, July 10th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $91.37.

Palantir Technologies Stock Up 1.6%

The stock has a market cap of $356.13 billion, a price-to-earnings ratio of 656.13, a PEG ratio of 12.68 and a beta of 2.59. The business's fifty day moving average is $132.92 and its two-hundred day moving average is $105.08.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 firm 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 business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock valued at $186,222,373 over the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several institutional investors have recently modified their holdings of PLTR. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the 1st quarter valued at $25,000. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $31,000. 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.