Palantir Technologies Inc. (NYSE:PLTR) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been assigned a consensus rating of “Reduce” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four 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 $26.79.

A number of equities analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now owns 152,280 shares in the company, valued at approximately $5,535,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,383,238 shares of company stock valued at $190,231,672. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Sanctuary Advisors LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $3,587,000. Strategic Investment Solutions Inc. IL acquired a new position in Palantir Technologies during the second quarter worth $125,000. Cetera Investment Advisers raised its position in Palantir Technologies by 25.2% during the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after acquiring an additional 142,411 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in Palantir Technologies during the second quarter worth $319,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NYSE PLTR opened at $37.20 on Friday. The stock’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $25.90. Palantir Technologies has a one year low of $13.68 and a one year high of $37.35. The firm has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. As a group, equities analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

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.