UBS Group Begins Coverage on Palantir Technologies (NASDAQ:PLTR)

Equities researchers at UBS Group began coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “neutral” rating and a $80.00 price target on the stock. UBS Group’s target price points to a potential downside of 0.68% from the company’s current price.

A number of other research firms have also commented on PLTR. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Trading Up 8.5 %

Palantir Technologies stock opened at $80.55 on Thursday. The firm has a market capitalization of $183.49 billion, a price-to-earnings ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87. The firm has a 50 day simple moving average of $59.06 and a 200 day simple moving average of $40.26. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $80.91.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts forecast that Palantir Technologies will post 0.21 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the transaction, the director now owns 145,625 shares in the company, valued at approximately $5,558,506.25. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,612,366 shares of company stock worth $1,867,342,292 over the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.