William Blair Reiterates Underperform Rating for Palantir Technologies (NYSE:PLTR)

Palantir Technologies (NYSE:PLTR)‘s stock had its “underperform” rating reiterated by stock analysts at William Blair in a research note issued to investors on Tuesday, RTT News reports.

PLTR has been the topic of several other research reports. Raymond James increased their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Bank of America upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada raised their price target on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Stock Up 0.7 %

PLTR stock opened at $21.56 on Tuesday. The company has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $20.35. Palantir Technologies has a 52 week low of $8.65 and a 52 week high of $27.50. The firm has a market capitalization of $47.71 billion, a P/E ratio of 239.58, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

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

Insider Buying and Selling

In related news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders sold a total of 7,206,273 shares of company stock worth $178,543,602 in the last 90 days. 13.96% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. Morgan Stanley boosted its stake in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares during the period. Northern Trust Corp raised its position in Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 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.