Palantir Technologies (NYSE:PLTR) Stock Rating Lowered by Raymond James

Palantir Technologies (NYSE:PLTR) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Monday, Marketbeat Ratings reports.

Other research analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Palantir Technologies in a research report on Monday, September 9th. Argus started coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Down 2.7 %

Shares of PLTR stock opened at $36.92 on Monday. Palantir Technologies has a twelve month low of $13.82 and a twelve month high of $38.19. The stock’s fifty day simple moving average is $30.76 and its 200 day simple moving average is $26.00. The firm has a market capitalization of $82.22 billion, a P/E ratio of 307.67 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now owns 29,817 shares in the company, valued at $834,876. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now owns 29,817 shares in the company, valued at $834,876. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock valued at $190,231,672 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vantage Financial Partners LLC lifted its stake in Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after acquiring an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Palantir Technologies by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after purchasing an additional 228,428 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter worth about $46,542,000. PNC Financial Services Group Inc. increased its stake in Palantir Technologies by 11.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after buying an additional 5,759 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Palantir Technologies by 7.6% during the 4th quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after buying an additional 11,284 shares in the last quarter. Institutional investors 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.