Palantir Technologies Inc. (NYSE:PLTR) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average rating of “Reduce” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $27.29.

PLTR has been the subject of several recent research reports. Argus began coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 target price for the company. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Monness Crespi & Hardt decreased their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $36.86 on Friday. Palantir Technologies has a 1 year low of $14.48 and a 1 year high of $38.19. The business’s fifty day moving average is $31.43 and its 200-day moving average is $26.31. The stock has a market cap of $82.08 billion, a PE ratio of 307.17 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. Equities research analysts predict that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now owns 51,234,275 shares in the company, valued at $1,883,884,291.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,644,559 shares of company stock valued at $346,929,762. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.