Palantir Technologies Inc. (NYSE:PLTR) Given Average Rating of “Hold” by Brokerages

Palantir Technologies Inc. (NYSE:PLTR) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.35.

A number of research analysts recently commented on the company. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Bank of America increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Raymond James increased their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Mizuho increased their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th.

Palantir Technologies Trading Down 3.8 %

Shares of NYSE PLTR opened at $21.97 on Wednesday. The business has a fifty day simple moving average of $23.39 and a 200 day simple moving average of $20.14. The firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 244.11, a PEG ratio of 5.52 and a beta of 2.78. Palantir Technologies has a one year low of $7.28 and a one year high of $27.50.

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

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Taylor sold 150,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $4,355,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in Palantir Technologies by 14.6% during the first quarter. Sequoia Financial Advisors LLC now owns 231,724 shares of the company’s stock worth $5,332,000 after buying an additional 29,435 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Palantir Technologies by 15.5% during the 1st quarter. Private Advisor Group LLC now owns 325,209 shares of the company’s stock worth $7,483,000 after buying an additional 43,667 shares during the period. Lodestone Wealth Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth about $230,000. J.W. Cole Advisors Inc. grew its position in shares of Palantir Technologies by 4.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 32,792 shares of the company’s stock worth $754,000 after buying an additional 1,371 shares during the period. Finally, Cutter & CO Brokerage Inc. grew its position in shares of Palantir Technologies by 11.8% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 16,643 shares of the company’s stock worth $383,000 after buying an additional 1,757 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.