Palantir Technologies Inc. (NYSE:PLTR) Given Average Rating of “Reduce” by Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been given an average recommendation of “Reduce” by the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $27.86.

A number of equities analysts have recently commented on PLTR shares. Wedbush lifted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Bank of America increased their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Northland Securities initiated coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd.

Palantir Technologies Trading Up 2.3 %

Shares of NYSE:PLTR opened at $42.97 on Wednesday. Palantir Technologies has a 52 week low of $14.48 and a 52 week high of $44.39. The company’s 50 day moving average is $35.60 and its two-hundred day moving average is $28.13. The company has a market cap of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the company posted $0.01 EPS. The company’s revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last quarter. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

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

Palantir Technologies Company Profile

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.