Palantir Technologies (NASDAQ:PLTR) Sets New 52-Week High - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $144.86 and last traded at $141.41, with a volume of 80082439 shares. The stock had previously closed at $137.40.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $86.30.

Palantir Technologies Price Performance

The company's fifty day simple moving average is $116.76 and its 200-day simple moving average is $95.53. The firm has a market capitalization of $333.72 billion, a PE ratio of 744.30, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the firm posted $0.08 EPS. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last 90 days. Insiders own 9.23% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in PLTR. Optima Capital LLC lifted its holdings in shares of Palantir Technologies by 0.6% in the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company's stock valued at $1,066,000 after buying an additional 81 shares during the period. 1248 Management LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $37,000. CBIZ Investment Advisory Services LLC boosted its position in Palantir Technologies by 118.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock worth $35,000 after purchasing an additional 224 shares in the last quarter. Modern Wealth Management LLC boosted its position in Palantir Technologies by 141.1% in the 1st quarter. Modern Wealth Management LLC now owns 18,114 shares of the company's stock worth $1,529,000 after purchasing an additional 10,601 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $13,364,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.