Palantir Technologies (NYSE:PLTR) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $35.00 price target on the stock.

PLTR has been the subject of several other reports. Monness Crespi & Hardt lowered shares of Palantir Technologies from a neutral rating to a sell rating and set a $20.00 price objective for the company. in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a sell rating in a report on Tuesday, May 7th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an underperform rating in a report on Tuesday, May 7th. DA Davidson lifted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Finally, HSBC lifted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a hold rating in a report on Tuesday, May 7th. Seven analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $21.96.

Palantir Technologies Stock Down 5.1 %

Shares of Palantir Technologies stock traded down $1.34 during trading on Friday, reaching $24.74. 56,092,591 shares of the stock were exchanged, compared to its average volume of 44,205,476. The stock’s fifty day moving average is $25.37 and its 200 day moving average is $23.24. The firm has a market cap of $55.09 billion, a price-to-earnings ratio of 206.18, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71. Palantir Technologies has a 1 year low of $13.68 and a 1 year high of $29.83.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. Equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexander D. Moore sold 20,422 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $22.94, for a total value of $468,480.68. Following the sale, the director now owns 1,587,707 shares in the company, valued at approximately $36,421,998.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $22.94, for a total transaction of $468,480.68. Following the transaction, the director now owns 1,587,707 shares in the company, valued at $36,421,998.58. The disclosure for this sale can be found here. Insiders have sold a total of 11,447,179 shares of company stock worth $242,285,913 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Palantir Technologies by 77.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,603 shares of the company’s stock worth $337,000 after acquiring an additional 8,539 shares in the last quarter. Global Retirement Partners LLC grew its stake in Palantir Technologies by 46.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,341 shares of the company’s stock worth $154,000 after acquiring an additional 2,982 shares in the last quarter. Leavell Investment Management Inc. grew its stake in Palantir Technologies by 5.9% in the 4th quarter. Leavell Investment Management Inc. now owns 35,644 shares of the company’s stock worth $612,000 after acquiring an additional 2,000 shares in the last quarter. Arizona State Retirement System grew its stake in Palantir Technologies by 2.6% in the 4th quarter. Arizona State Retirement System now owns 507,252 shares of the company’s stock worth $8,710,000 after acquiring an additional 12,798 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after acquiring an additional 2,742,071 shares in the last quarter. 45.65% of the stock is currently 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.