Palantir Technologies (NYSE:PLTR) Lowered to “Sell” at Monness Crespi & Hardt

Monness Crespi & Hardt lowered shares of Palantir Technologies (NYSE:PLTR) from a neutral rating to a sell rating in a research note published on Friday, MarketBeat reports. The firm currently has $20.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reissued an outperform rating and issued a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. Mizuho increased their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, March 7th. 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. DA Davidson increased their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. Finally, William Blair reaffirmed an underperform rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $21.25.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $23.82 on Friday. The company has a fifty day moving average of $22.29 and a two-hundred day moving average of $21.24. The stock has a market capitalization of $53.04 billion, a PE ratio of 198.52, a P/E/G ratio of 5.96 and a beta of 2.70. Palantir Technologies has a fifty-two week low of $13.56 and a fifty-two week high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Research analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Heather A. Planishek sold 10,907 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the transaction, the insider now directly owns 651,099 shares in the company, valued at $13,953,051.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,374,153 shares of company stock valued at $239,976,945. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of Palantir Technologies by 3,246.0% during the first quarter. EverSource Wealth Advisors LLC now owns 194,839 shares of the company’s stock worth $4,281,000 after acquiring an additional 189,016 shares during the last quarter. Garde Capital Inc. grew its position in shares of Palantir Technologies by 62.3% during the first quarter. Garde Capital Inc. now owns 40,992 shares of the company’s stock worth $943,000 after acquiring an additional 15,734 shares during the last quarter. Cetera Advisors LLC grew its position in shares of Palantir Technologies by 51.3% during the first quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock worth $3,759,000 after acquiring an additional 55,375 shares during the last quarter. PGGM Investments purchased a new position in Palantir Technologies in the 1st quarter valued at $3,024,000. Finally, Wellington Shields & Co. LLC purchased a new position in Palantir Technologies in the 1st quarter valued at $214,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.