Palantir Technologies’ (PLTR) Underperform Rating Reiterated at William Blair

Palantir Technologies (NYSE:PLTR)‘s stock had its “underperform” rating reaffirmed by stock analysts at William Blair in a report released on Wednesday,RTT News reports.

PLTR has been the topic of several other reports. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Bank of America raised their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Mizuho lifted their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Stock Down 1.6 %

Shares of PLTR traded down $1.10 during trading hours on Wednesday, reaching $69.86. 43,175,890 shares of the company traded hands, compared to its average volume of 58,770,000. The stock has a market capitalization of $159.14 billion, a P/E ratio of 349.32, a P/E/G ratio of 8.98 and a beta of 2.87. The business has a fifty day moving average price of $50.11 and a 200-day moving average price of $35.72. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $71.37.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company earned $0.03 earnings per share. The company’s revenue was up 30.0% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.19, for a total transaction of $200,799.50. Following the transaction, the director now owns 158,280 shares in the company, valued at $5,253,313.20. This trade represents a 3.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,423,181 shares of company stock worth $1,972,588,658 over the last 90 days. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Finally, Creekmur Asset Management LLC grew its position in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.