Jefferies Financial Group Downgrades Palantir Technologies (NYSE:PLTR) to Underperform

Palantir Technologies (NYSE:PLTR) was downgraded by equities researchers at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research report issued on Thursday, Briefing.com reports. They presently have a $28.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential downside of 49.55% from the company’s previous close.

PLTR has been the topic of a number of other research reports. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday. Mizuho increased their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday. Citigroup lifted their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.93.

Palantir Technologies Price Performance

PLTR opened at $55.51 on Thursday. The company has a market capitalization of $124.30 billion, a price-to-earnings ratio of 277.53 and a beta of 2.70. The business’s 50-day moving average price is $38.60 and its two-hundred day moving average price is $29.97. Palantir Technologies has a 1 year low of $15.66 and a 1 year high of $55.69.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the firm earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the company’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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on 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 sale, the insider now directly owns 6,432,258 shares in the company, 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. In the last three months, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% in the third 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. Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $6,339,000. Seven Grand Managers LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at approximately $930,000. Finally, Silvant Capital Management LLC raised its stake in shares of Palantir Technologies by 28.2% during the third quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock valued at $8,613,000 after acquiring an additional 50,883 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.