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

Palantir Technologies Inc. (NASDAQ:PLTR) has received a consensus recommendation of “Reduce” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $69.44.

Several equities research analysts recently commented on PLTR shares. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Mizuho raised their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, UBS Group raised their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,339,480 shares of company stock worth $578,221,285. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. State Street Corp grew its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC grew its position 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 buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC grew its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of PLTR opened at $119.16 on Tuesday. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $120.67. The company has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The business has a 50-day moving average of $82.84 and a 200-day moving average of $57.43.

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.