Palantir Technologies (NASDAQ:PLTR) Reaches New 1-Year High – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) hit a new 52-week high on Tuesday . The stock traded as high as $121.09 and last traded at $124.63, with a volume of 1915548 shares. The stock had previously closed at $119.16.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLTR. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

The stock has a market capitalization of $283.89 billion, a price-to-earnings ratio of 655.93, a PEG ratio of 11.44 and a beta of 2.81. The firm’s 50 day moving average is $82.84 and its 200-day moving average is $57.43.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,339,480 shares of company stock worth $578,221,285. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently made changes to their positions in the company. Mather Group LLC. grew its holdings in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $3,233,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. 45.65% of the stock is currently 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.