Morgan Stanley Reiterates Underweight Rating for Palantir Technologies (NASDAQ:PLTR)

Morgan Stanley reissued their underweight rating on shares of Palantir Technologies (NASDAQ:PLTR) in a research note published on Monday, Marketbeat.com reports. The brokerage currently has a $60.00 target price on the stock.

Several other equities analysts have also commented on PLTR. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Bank of America increased their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $75.92 on Monday. The firm has a 50 day simple moving average of $66.90 and a 200-day simple moving average of $44.73. The stock has a market cap of $172.95 billion, a price-to-earnings ratio of 379.62, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies has a 1-year low of $16.03 and a 1-year high of $84.80.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the transaction, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. The trade was a 5.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,645,510 shares of company stock valued at $1,444,267,325 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Kings Path Partners LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $76,000. Creekmur Asset Management LLC boosted its stake in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in shares of Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.