Palantir Technologies Inc. (NASDAQ:PLTR) Given Average Recommendation of “Hold” by Analysts

Palantir Technologies Inc. (NASDAQ:PLTR) has been given a consensus rating of “Hold” by the twenty-three brokerages that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $91.37.

PLTR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $160.00 target price on Palantir Technologies in a report on Thursday, July 10th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a “buy” rating in a report on Thursday, June 12th. Finally, UBS Group restated a “positive” rating on shares of Palantir Technologies in a research report on Wednesday, June 25th.

Palantir Technologies Trading Up 2.0%

NASDAQ PLTR opened at $153.99 on Friday. The stock’s 50 day moving average is $133.61 and its 200 day moving average is $105.61. Palantir Technologies has a 12 month low of $21.23 and a 12 month high of $155.68. The stock has a market cap of $363.40 billion, a PE ratio of 669.52, a P/E/G ratio of 12.88 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, analysts forecast that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company’s stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 in the last quarter. Insiders own 9.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Nuveen LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD lifted its position in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.