Palantir Technologies (NASDAQ:PLTR) Upgraded at Cantor Fitzgerald

Palantir Technologies (NASDAQ:PLTR) was upgraded by investment analysts at Cantor Fitzgerald to a “hold” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $72.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 0.32% from the company’s current price.

A number of other analysts have also issued reports on PLTR. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.78.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $71.77 on Thursday. Palantir Technologies has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. The stock has a fifty day moving average of $70.22 and a two-hundred day moving average of $46.85.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. On average, analysts forecast that Palantir Technologies will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the second quarter worth about $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.