Palantir Technologies (NYSE:PLTR) Downgraded by Monness Crespi & Hardt to “Sell”

Monness Crespi & Hardt downgraded shares of Palantir Technologies (NYSE:PLTR) from a neutral rating to a sell rating in a research report released on Thursday, Marketbeat reports. Monness Crespi & Hardt currently has $20.00 price target on the stock.

A number of other equities analysts also recently issued reports on the stock. Wedbush reissued an outperform rating and issued a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Mizuho raised their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, March 7th. Royal Bank of Canada restated an underperform rating and set a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Citigroup upgraded shares of Palantir Technologies from a sell rating to a neutral rating and raised their target price for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded shares of Palantir Technologies from an underperform rating to a hold rating and raised their target price for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $18.35.

Palantir Technologies Trading Down 6.1 %

PLTR opened at $23.01 on Thursday. The company has a market cap of $50.91 billion, a price-to-earnings ratio of 255.70, a PEG ratio of 6.01 and a beta of 2.82. The company’s 50 day moving average is $22.54 and its 200 day moving average is $19.06. Palantir Technologies has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, analysts predict that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares in the company, valued at $3,234,614.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,455,273 shares of company stock worth $184,293,942. 13.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 22.4% during the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after purchasing an additional 28,563,749 shares during the period. Scout Investments Inc. acquired a new stake in Palantir Technologies in the 2nd quarter valued at $199,052,000. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at $39,395,000. Jericho Capital Asset Management L.P. acquired a new stake in Palantir Technologies in the 2nd quarter valued at $76,650,000. Finally, Morgan Stanley grew its stake in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.