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

Palantir Technologies Inc. (NASDAQ:PLTR) has earned an average recommendation of “Reduce” from the twenty-one brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.61.

A number of equities research analysts recently commented on PLTR shares. Wedbush increased their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, 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 report on Thursday, November 7th.

Palantir Technologies Stock Up 2.7 %

Palantir Technologies stock opened at $78.98 on Friday. The firm has a market capitalization of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 6.73 and a beta of 2.82. Palantir Technologies has a 52 week low of $16.03 and a 52 week high of $84.80. The firm’s 50-day simple moving average is $71.30 and its 200 day simple moving average is $48.32.

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

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The shares were 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 directly owns 6,432,258 shares in the company, valued at $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. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $876,000. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its position in Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.