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

Palantir Technologies Inc. (NYSE:PLTR) has been given an average rating of “Reduce” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.71.

Several research firms recently issued reports on PLTR. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho boosted their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Wedbush lifted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $59.19 on Friday. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $63.39. The stock’s 50 day simple moving average is $41.90 and its two-hundred day simple moving average is $31.45. The stock has a market cap of $132.55 billion, a price-to-earnings ratio of 295.95 and a beta of 2.70.

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

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,239,238 shares of company stock worth $1,036,731,557 over the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the period. Tyler Stone Wealth Management increased its position in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Heritage Wealth Management Inc. CA bought a new stake in shares of Palantir Technologies in the 3rd quarter worth about $1,076,000. Finally, Cyndeo Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter worth about $6,339,000. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.