Palantir Technologies (NYSE:PLTR) Lowered to Hold Rating by Argus

Palantir Technologies (NYSE:PLTR) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a report released on Thursday, Briefing.com reports.

A number of other research analysts also recently weighed in on PLTR. The Goldman Sachs Group increased their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday. Raymond James downgraded 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 target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Finally, Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.93.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $55.51 on Thursday. The stock’s fifty day moving average price is $38.60 and its two-hundred day moving average price is $29.97. Palantir Technologies has a 52-week low of $15.66 and a 52-week high of $55.69. The company has a market cap of $124.30 billion, a price-to-earnings ratio of 277.53 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the sale, the insider now directly owns 612,006 shares in the company, valued at approximately $18,507,061.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock worth $802,654,666 in the last three months. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. ARK Investment Management LLC increased its stake in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc increased its stake in Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares during the last quarter. 45.65% of the stock is currently 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.