Palantir Technologies (NASDAQ:PLTR) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report report published on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $72.00 price objective on the stock.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, UBS Group started coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Seven equities 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.com, the company presently has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Trading Up 3.7 %

PLTR opened at $71.77 on Friday. The firm has a market cap 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’s 50-day moving average price is $70.49 and its 200 day moving average price is $47.32. Palantir Technologies has a 12-month low of $16.03 and a 12-month high of $84.80.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the last quarter. FMR LLC increased its position in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.