Palantir Technologies’ (PLTR) Underperform Rating Reaffirmed at William Blair

William Blair reiterated their underperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research note published on Wednesday morning,RTT News reports.

Several other equities research analysts have also issued reports on the stock. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush boosted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Trading Down 1.6 %

Palantir Technologies stock opened at $69.85 on Wednesday. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $71.37. The firm’s fifty day simple moving average is $50.77 and its 200-day simple moving average is $35.95. The company has a market capitalization of $159.12 billion, a P/E ratio of 349.27, a P/E/G ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the business earned $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the sale, the insider now directly owns 576,023 shares in the company, valued at $19,435,016.02. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,423,181 shares of company stock valued at $1,972,588,658 over the last quarter. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth approximately $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. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $30,000. 45.65% of the stock is owned by institutional investors.

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.