Palantir Technologies (NYSE:PLTR) Reaches New 52-Week Low After Analyst Downgrade

Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) hit a new 52-week low during mid-day trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $7.00 to $6.00. Deutsche Bank Aktiengesellschaft currently has a sell rating on the stock. Palantir Technologies traded as low as $5.84 and last traded at $7.37, with a volume of 3048013 shares. The stock had previously closed at $7.38.

PLTR has been the subject of a number of other research reports. Royal Bank of Canada cut their price objective on Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating for the company in a research report on Monday, November 7th. Mizuho initiated coverage on Palantir Technologies in a research report on Wednesday, January 18th. They set a “neutral” rating and a $7.00 price objective for the company. Jefferies Financial Group lowered Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $7.50 in a research report on Thursday, January 5th. Morgan Stanley dropped their price target on Palantir Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. Finally, Wolfe Research lowered Palantir Technologies from a “peer perform” rating to an “underperform” rating and set a $4.50 price target for the company. in a research report on Wednesday, December 21st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.77.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 79,761 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $7.25, for a total transaction of $578,267.25. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $4,292. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen Andrew Cohen sold 79,761 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $7.25, for a total transaction of $578,267.25. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $4,292. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $6.38, for a total transaction of $44,660.00. Following the sale, the director now directly owns 213,830 shares of the company’s stock, valued at approximately $1,364,235.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,085,739 shares of company stock valued at $7,651,502. Corporate insiders own 13.22% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the business. Private Capital Group LLC increased its holdings in Palantir Technologies by 81.2% during the second quarter. Private Capital Group LLC now owns 2,907 shares of the company’s stock valued at $26,000 after buying an additional 1,303 shares during the period. CX Institutional purchased a new position in Palantir Technologies in the second quarter worth $29,000. TCI Wealth Advisors Inc. grew its holdings in Palantir Technologies by 41.5% in the second quarter. TCI Wealth Advisors Inc. now owns 3,990 shares of the company’s stock worth $36,000 after purchasing an additional 1,170 shares during the last quarter. Exos TFP Holdings LLC purchased a new position in Palantir Technologies in the third quarter worth $35,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in Palantir Technologies in the second quarter worth $39,000. 31.90% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

The firm has a market capitalization of $14.60 billion, a PE ratio of -25.03 and a beta of 2.88. The company’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $8.01.

Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $477.88 million for the quarter, compared to analysts’ expectations of $474.58 million. Palantir Technologies had a negative net margin of 30.64% and a negative return on equity of 8.86%. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post -0.17 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.