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 issued on Thursday, Briefing.com reports.

Several other research firms have also recently commented on PLTR. The Goldman Sachs Group raised their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. 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. Monness Crespi & Hardt decreased their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Mizuho increased their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.93.

Palantir Technologies Trading Up 8.6 %

Shares of Palantir Technologies stock opened at $55.51 on Thursday. The business’s 50 day simple moving average is $38.60 and its 200-day simple moving average is $29.97. The stock has a market capitalization of $124.30 billion, a price-to-earnings ratio of 277.53 and a beta of 2.70. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $55.69.

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

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the transaction, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. This trade represents a 0.00 % 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, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares in the company, valued at approximately $11,180,675.65. 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 valued at $802,654,666 over the last quarter. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. International Assets Investment Management LLC grew its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares during the period. Marshall Wace LLP boosted its holdings in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 1.6% in the 1st 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after acquiring an additional 1,969,213 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.