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

Palantir Technologies Inc. (NYSE:PLTR – Free Report) has been assigned an average rating of “Reduce” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.54.

A number of equity analysts have recently commented on the company. Raymond James downgraded Palantir Technologies from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $15.00 to $18.00 in a report on Tuesday, June 20th. Jefferies Financial Group boosted their price objective on Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Bank of America boosted their price target on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, June 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Monday, March 27th.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 21,900 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $7.74, for a total transaction of $169,506.00. Following the completion of the sale, the director now directly owns 1,858,152 shares of the company’s stock, valued at approximately $14,382,096.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 269,510 shares of Palantir Technologies stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $11.76, for a total transaction of $3,169,437.60. Following the transaction, the insider now directly owns 1,603,950 shares in the company, valued at $18,862,452. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 21,900 shares of Palantir Technologies stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $7.74, for a total value of $169,506.00. Following the transaction, the director now owns 1,858,152 shares in the company, valued at $14,382,096.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,944,423 shares of company stock valued at $27,296,108. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Saba Capital Management LP boosted its stake in shares of Palantir Technologies by 30.7% in the third quarter. Saba Capital Management LP now owns 317,295 shares of the company’s stock valued at $2,580,000 after buying an additional 74,500 shares during the period. Franklin Resources Inc. grew its holdings in Palantir Technologies by 17.6% during the 4th quarter. Franklin Resources Inc. now owns 68,985 shares of the company’s stock worth $443,000 after acquiring an additional 10,343 shares during the period. Kovac Advisors Inc. boosted its position in shares of Palantir Technologies by 107.2% during the 4th quarter. Kovac Advisors Inc. now owns 48,911 shares of the company’s stock worth $314,000 after purchasing an additional 25,305 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Palantir Technologies by 93.6% during the 4th quarter. International Assets Investment Management LLC now owns 147,688 shares of the company’s stock worth $948,000 after purchasing an additional 71,402 shares in the last quarter. Finally, Simplicity Solutions LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $74,000. Institutional investors and hedge funds own 31.57% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $15.28 on Thursday. The business has a 50-day simple moving average of $12.05 and a 200-day simple moving average of $9.22. The stock has a market capitalization of $32.34 billion, a PE ratio of -117.50, a price-to-earnings-growth ratio of 4.90 and a beta of 2.79. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $17.16.

Palantir Technologies (NYSE:PLTR – Free Report) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies has a negative return on equity of 12.48% and a negative net margin of 12.88%. As a group, equity research analysts anticipate that Palantir Technologies will post 0.05 EPS for the current year.

Palantir Technologies Company Profile

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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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.

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