Palantir Technologies (NYSE:PLTR) Receives Underperform Rating from William Blair

Palantir Technologies (NYSE:PLTR)‘s stock had its “underperform” rating reissued by analysts at William Blair in a report released on Wednesday,RTT News reports.

A number of other brokerages have also recently commented on PLTR. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.40.

Palantir Technologies Stock Performance

NYSE:PLTR traded up $2.07 during trading on Wednesday, reaching $76.46. The company’s stock had a trading volume of 18,669,074 shares, compared to its average volume of 60,109,934. The firm has a market cap of $174.18 billion, a price-to-earnings ratio of 379.30, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The firm has a 50 day moving average of $57.14 and a 200-day moving average of $39.39. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91.

Palantir Technologies (NYSE:PLTR) last issued its quarterly 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,612,366 shares of company stock valued at $1,867,342,292. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% during 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. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.