Analysts Set Palantir Technologies Inc. (NASDAQ:PLTR) PT at $41.00

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have been given a consensus recommendation of “Reduce” by the nineteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $41.00.

Several equities analysts recently issued reports on the company. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson raised 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, Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th.

Palantir Technologies Trading Up 6.3 %

NASDAQ PLTR opened at $79.89 on Monday. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $84.80. The stock’s fifty day moving average price is $66.28 and its 200-day moving average price is $44.12. The stock has a market cap of $181.99 billion, a P/E ratio of 399.47, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction dated 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 owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,160,723 shares of company stock valued at $1,408,158,941. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% in the 3rd 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 in the last quarter. State of Alaska Department of Revenue boosted its stake in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management increased its stake in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $639,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.