Palantir Technologies (NYSE:PLTR) Raised to “Hold” at Baird R W

Baird R W upgraded shares of Palantir Technologies (NYSE:PLTR) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research report on Thursday. They issued a “neutral” rating and a $70.00 price target for the company. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wedbush lifted their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $38.40.

Palantir Technologies Trading Up 3.9 %

NYSE:PLTR opened at $76.07 on Thursday. The stock has a fifty day moving average price of $55.75 and a 200 day moving average price of $38.51. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $80.91. The firm has a market cap of $173.29 billion, a PE ratio of 380.35, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87.

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

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,118,366 shares of company stock worth $2,029,875,392. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.