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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high on Wednesday . The company traded as high as $118.66 and last traded at $112.62, with a volume of 93907953 shares. The stock had previously closed at $116.65.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Mizuho boosted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. UBS Group raised their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Down 3.5 %

The firm has a market cap of $256.55 billion, a PE ratio of 592.77, a PEG ratio of 11.44 and a beta of 2.81. The company has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $54.24.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,833,085 shares of company stock worth $924,999,929. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in Palantir Technologies by 21.4% during the third quarter. Sound Income Strategies LLC now owns 3,481 shares of the company’s stock valued at $130,000 after buying an additional 613 shares during the period. Thomasville National Bank bought a new stake in Palantir Technologies during the 3rd quarter valued at $215,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Palantir Technologies by 46.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,200 shares of the company’s stock valued at $82,000 after purchasing an additional 700 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $65,000. Finally, Sapient Capital LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth about $206,000. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

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.