Palantir Technologies (NYSE:PLTR) Hits New 52-Week High at $13.62

Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) reached a new 52-week high on Friday . The stock traded as high as $13.62 and last traded at $13.58, with a volume of 22509400 shares changing hands. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. DA Davidson began coverage on Palantir Technologies in a research report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. The Goldman Sachs Group decreased their price objective on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, February 14th. Citigroup reaffirmed a “sell” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Friday, February 3rd. Finally, Jefferies Financial Group upped their target price on shares of Palantir Technologies from $8.50 to $10.00 in a research report on Tuesday, May 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $8.54.

Palantir Technologies Price Performance

The company’s 50-day moving average price is $8.83 and its 200-day moving average price is $7.95. The company has a market cap of $29.73 billion, a P/E ratio of -104.46, a P/E/G ratio of 4.30 and a beta of 2.85.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 18,700 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $10.05, for a total value of $187,935.00. Following the sale, the insider now directly owns 210,260 shares in the company, valued at $2,113,113. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Shyam Sankar sold 269,510 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $11.76, for a total value of $3,169,437.60. Following the completion of the sale, the insider now directly owns 1,603,950 shares in the company, valued at approximately $18,862,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 18,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $10.05, for a total value of $187,935.00. Following the transaction, the insider now directly owns 210,260 shares in the company, valued at approximately $2,113,113. The disclosure for this sale can be found here. Over the last three months, insiders sold 511,341 shares of company stock worth $5,586,327. 13.96% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently modified their holdings of the stock. Mandatum Life Insurance Co Ltd raised its holdings in Palantir Technologies by 2.3% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 57,591 shares of the company’s stock valued at $487,000 after acquiring an additional 1,292 shares in the last quarter. Utah Retirement Systems increased its holdings in Palantir Technologies by 1.4% in the 3rd quarter. Utah Retirement Systems now owns 95,700 shares of the company’s stock valued at $778,000 after buying an additional 1,300 shares during the period. Redwood Wealth Management Group LLC raised its position in shares of Palantir Technologies by 4.5% in the 1st quarter. Redwood Wealth Management Group LLC now owns 30,470 shares of the company’s stock valued at $257,000 after buying an additional 1,325 shares in the last quarter. Sepio Capital LP lifted its holdings in shares of Palantir Technologies by 9.0% during the 1st quarter. Sepio Capital LP now owns 16,181 shares of the company’s stock worth $137,000 after acquiring an additional 1,333 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Palantir Technologies by 2.7% during the 1st quarter. Prudential Financial Inc. now owns 51,712 shares of the company’s stock worth $479,000 after acquiring an additional 1,348 shares in the last quarter. Institutional investors and hedge funds own 31.90% of the company’s stock.

About Palantir Technologies

(Get Rating)

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.