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

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned a consensus recommendation of “Reduce” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.04.

A number of equities analysts have commented on PLTR shares. Citigroup boosted their target price on shares of Palantir Technologies from $6.00 to $10.00 and gave the stock a “sell” rating in a report on Monday, August 7th. Morgan Stanley lowered shares of Palantir Technologies from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $8.00 to $9.00 in a research note on Thursday, August 31st. Bank of America raised their price objective on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, June 12th. DA Davidson boosted their target price on shares of Palantir Technologies from $8.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Finally, Wolfe Research upped their price objective on Palantir Technologies from $6.00 to $7.50 and gave the stock an “underperform” rating in a research report on Tuesday, August 8th.

Palantir Technologies Price Performance

PLTR stock opened at $15.81 on Tuesday. The firm’s 50-day moving average is $16.15 and its 200 day moving average is $12.45. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $20.24. The company has a market capitalization of $34.02 billion, a PE ratio of -527.00, a P/E/G ratio of 3.82 and a beta of 2.80.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 7th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $533.88 million. Palantir Technologies had a negative return on equity of 4.37% and a negative net margin of 2.35%. Sell-side analysts forecast that Palantir Technologies will post 0.07 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 325,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $15.40, for a total value of $5,005,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $99,056,773.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 325,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $15.40, for a total value of $5,005,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $99,056,773.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 196,888 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $14.55, for a total value of $2,864,720.40. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $8,613.60. The disclosure for this sale can be found here. Insiders have sold 2,613,619 shares of company stock valued at $49,216,461 over the last ninety days. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the company. Commerce Bank lifted its stake in Palantir Technologies by 7.8% in the first quarter. Commerce Bank now owns 96,261 shares of the company’s stock worth $813,000 after acquiring an additional 6,964 shares during the last quarter. abrdn plc raised its position in Palantir Technologies by 90.3% in the 1st quarter. abrdn plc now owns 324,760 shares of the company’s stock valued at $2,744,000 after purchasing an additional 154,130 shares during the last quarter. WBH Advisory Inc. acquired a new stake in shares of Palantir Technologies during the first quarter worth about $315,000. Franklin Resources Inc. grew its stake in shares of Palantir Technologies by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 68,985 shares of the company’s stock valued at $443,000 after purchasing an additional 10,343 shares during the last quarter. Finally, Kovack Advisors Inc. grew its position in Palantir Technologies by 107.2% in the 4th quarter. Kovack Advisors Inc. now owns 48,911 shares of the company’s stock valued at $314,000 after buying an additional 25,305 shares during the last quarter. 34.21% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.