Jefferies Financial Group Downgrades Palantir Technologies (NYSE:PLTR) to Underperform

Palantir Technologies (NYSE:PLTR) was downgraded by research analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $28.00 price objective on the stock. Jefferies Financial Group’s price target would indicate a potential downside of 52.07% from the company’s previous close.

Several other research firms also recently issued reports on PLTR. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Securities lifted their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday. Bank of America increased their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $58.42 on Thursday. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $58.48. The company has a 50 day simple moving average of $39.60 and a two-hundred day simple moving average of $30.33. The company has a market capitalization of $130.83 billion, a PE ratio of 290.86 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. Research analysts predict that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Glazer sold 72,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total value of $2,260,550.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $9,292,014.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in Palantir Technologies by 7.5% during the first quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock worth $279,000 after purchasing an additional 842 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Palantir Technologies by 9.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after buying an additional 2,427 shares in the last quarter. Empowered Funds LLC grew its position in Palantir Technologies by 32.0% during the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after acquiring an additional 6,002 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares in the last quarter. Finally, Insight Advisors LLC PA bought a new stake in Palantir Technologies in the first quarter worth $203,000. 45.65% of the stock is owned by 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.