Brokerages Set Palantir Technologies Inc. (NASDAQ:PLTR) Target Price at $41.00

Palantir Technologies Inc. (NASDAQ:PLTR) has been given an average rating of “Reduce” by the nineteen brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.00.

Several brokerages have recently weighed in on PLTR. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird started coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th.

Palantir Technologies Trading Down 2.0 %

PLTR opened at $75.63 on Monday. The stock has a market capitalization of $172.29 billion, a P/E ratio of 378.17, a P/E/G ratio of 10.18 and a beta of 2.87. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $84.80. The firm’s fifty day simple moving average is $64.29 and its 200 day simple moving average is $43.29.

Palantir Technologies (NASDAQ: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 company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’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 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $22,452,139.70. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,180,723 shares of company stock worth $1,408,957,941 over the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position 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 acquiring an additional 808,444 shares during the period. FMR LLC grew 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 worth $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. 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.