Palantir Technologies Inc. (NYSE:PLTR) Receives Consensus Recommendation of “Reduce” from Analysts

Palantir Technologies Inc. (NYSE:PLTR) has earned a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.35.

A number of research analysts recently commented on PLTR shares. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Wednesday, February 14th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Raymond James raised their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th.

Palantir Technologies Stock Up 3.2 %

NYSE PLTR opened at $21.64 on Wednesday. The firm has a 50-day moving average price of $23.64 and a two-hundred day moving average price of $19.99. Palantir Technologies has a 12-month low of $7.28 and a 12-month high of $27.50. The company has a market capitalization of $47.87 billion, a P/E ratio of 240.42, a P/E/G ratio of 5.02 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Equities analysts expect that Palantir Technologies will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the sale, the director now owns 191,783 shares in the company, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Milestone Asset Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at about $446,000. Global Retirement Partners LLC raised its stake in Palantir Technologies by 34.6% during the 1st quarter. Global Retirement Partners LLC now owns 12,573 shares of the company’s stock valued at $289,000 after purchasing an additional 3,232 shares during the period. Mason & Associates Inc purchased a new position in Palantir Technologies in the 1st quarter worth approximately $228,000. Venturi Wealth Management LLC boosted its stake in Palantir Technologies by 253.2% in the 1st quarter. Venturi Wealth Management LLC now owns 9,360 shares of the company’s stock worth $215,000 after purchasing an additional 6,710 shares during the period. Finally, Canvas Wealth Advisors LLC grew its holdings in Palantir Technologies by 4.8% during the 1st quarter. Canvas Wealth Advisors LLC now owns 159,880 shares of the company’s stock valued at $3,407,000 after buying an additional 7,304 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.