Palantir Technologies (NYSE:PLTR) Earns Underperform Rating from Royal Bank of Canada

Palantir Technologies (NYSE:PLTR)‘s stock had its “underperform” rating restated by research analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential downside of 74.76% from the stock’s current price.

PLTR has been the topic of several other reports. Mizuho raised their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. TheStreet upgraded Palantir Technologies from a “d” rating to a “c-” rating in a research report on Friday, September 29th. Wolfe Research increased their price target on shares of Palantir Technologies from $6.00 to $7.50 and gave the company an “underperform” rating in a research report on Tuesday, August 8th. DA Davidson increased their target price on shares of Palantir Technologies from $8.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, Citigroup boosted their price target on shares of Palantir Technologies from $6.00 to $10.00 and gave the company a “sell” rating in a report on Monday, August 7th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.25.

Palantir Technologies Stock Performance

NYSE:PLTR traded down $1.53 on Tuesday, hitting $19.81. 70,608,068 shares of the stock were exchanged, compared to its average volume of 59,328,625. Palantir Technologies has a 52 week low of $5.84 and a 52 week high of $21.85. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 330.17, a P/E/G ratio of 3.47 and a beta of 2.70. The company’s 50-day moving average price is $16.78 and its 200 day moving average price is $15.56.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 27,226 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $15.30, for a total value of $416,557.80. Following the completion of the sale, the insider now directly owns 762,006 shares in the company, valued at approximately $11,658,691.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $15.71, for a total transaction of $56,477.45. Following the completion of the sale, the director now directly owns 61,479 shares in the company, valued at $965,835.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 27,226 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $15.30, for a total value of $416,557.80. Following the transaction, the insider now owns 762,006 shares in the company, valued at approximately $11,658,691.80. The disclosure for this sale can be found here. Insiders have sold 444,521 shares of company stock worth $6,873,874 in the last ninety days. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. AlphaCrest Capital Management LLC acquired a new stake in Palantir Technologies during the first quarter worth approximately $206,000. D.A. Davidson & CO. grew its holdings in shares of Palantir Technologies by 18.6% during the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth $1,475,000. Cibc World Market Inc. raised its stake in Palantir Technologies by 38.3% in the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after purchasing an additional 482,171 shares during the period. 34.21% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.