Palantir Technologies Inc. (NASDAQ:PLTR) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have been assigned a consensus rating of “Reduce” from the nineteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $41.00.

PLTR has been the topic of a number of analyst reports. DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered 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. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now owns 592 shares in the company, valued at $43,908.64. This trade represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,180,723 shares of company stock valued at $1,408,957,941 in the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake 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 buying an additional 650 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the 2nd quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd purchased a new position in Palantir Technologies during the second quarter valued at $36,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $79.08 on Monday. The firm has a market cap of $180.15 billion, a PE ratio of 395.42, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The stock’s fifty day moving average price is $62.94 and its two-hundred day moving average price is $42.55. Palantir Technologies has a one year low of $15.66 and a one year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts expect that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

About Palantir Technologies

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.