Palantir Technologies (NYSE:PLTR) Stock Rating Lowered by Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR) was downgraded by equities research analysts at Monness Crespi & Hardt from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $20.00 price target on the stock. Monness Crespi & Hardt’s price objective suggests a potential downside of 16.11% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup boosted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, May 7th. DA Davidson boosted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

Shares of PLTR opened at $23.84 on Friday. Palantir Technologies has a 52 week low of $13.56 and a 52 week high of $27.50. The firm has a market cap of $53.09 billion, a P/E ratio of 198.67, a price-to-earnings-growth ratio of 5.90 and a beta of 2.70. The firm’s 50-day simple moving average is $22.29 and its 200 day simple moving average is $21.24.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. As a group, equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders sold a total of 11,374,153 shares of company stock valued at $239,976,945 in the last quarter. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pursue Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter worth $1,741,000. Vanguard Group Inc. boosted its stake in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Palantir Technologies in the third quarter valued at $4,446,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after buying an additional 116,220 shares in the last quarter. Finally, Udine Wealth Management Inc. bought a new position in shares of Palantir Technologies in the fourth quarter valued at $1,612,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.