Palantir Technologies (NYSE:PLTR) Cut to “Hold” at Argus

Argus downgraded shares of Palantir Technologies (NYSE:PLTR) from a buy rating to a hold rating in a research note published on Thursday, Marketbeat.com reports.

A number of other equities research analysts have also weighed in on the company. Monness Crespi & Hardt decreased their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Bank of America increased their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. DA Davidson boosted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Mizuho upped their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Trading Up 4.5 %

NYSE:PLTR opened at $58.39 on Thursday. The company has a market cap of $130.76 billion, a price-to-earnings ratio of 291.96 and a beta of 2.70. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $58.48. The stock has a fifty day simple moving average of $40.13 and a 200-day simple moving average of $30.65.

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. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. As a group, equities research analysts predict that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. 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 can be accessed through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the transaction, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,482,878 shares of company stock worth $1,044,202,496. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. LPL Financial LLC lifted its stake in Palantir Technologies by 22.8% during the 3rd quarter. LPL Financial LLC now owns 3,100,520 shares of the company’s stock valued at $115,339,000 after acquiring an additional 575,790 shares during the period. Trustmark National Bank Trust Department purchased a new stake in Palantir Technologies in the third quarter valued at $207,000. Advisors Asset Management Inc. grew its position in Palantir Technologies by 76.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock worth $1,996,000 after purchasing an additional 23,178 shares during the period. Kirtland Hills Capital Management LLC raised its stake in shares of Palantir Technologies by 128.2% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock valued at $1,016,000 after buying an additional 15,344 shares during the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at about $927,000. 45.65% of the stock is 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.