Palantir Technologies (NASDAQ:PLTR) Given Underweight Rating at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of Palantir Technologies (NASDAQ:PLTR) in a report issued on Monday, Marketbeat.com reports. They currently have a $60.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Wedbush raised their target price on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Trading Down 2.5 %

PLTR opened at $68.23 on Monday. Palantir Technologies has a 12 month low of $16.03 and a 12 month high of $84.80. The business’s 50-day moving average price is $67.89 and its 200-day moving average price is $45.22. The company has a market cap of $155.43 billion, a P/E ratio of 341.17, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS 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 9.94% 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 previous year, the firm earned $0.03 EPS. Equities research 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 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,645,510 shares of company stock worth $1,444,267,325 in the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLTR. First Hawaiian Bank increased its holdings in Palantir Technologies by 36.5% in the 4th quarter. First Hawaiian Bank now owns 15,434 shares of the company’s stock worth $1,167,000 after buying an additional 4,131 shares in the last quarter. Oriental Harbor Investment Fund purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $33,500,000. Range Financial Group LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $526,000. Strathmore Capital Advisors Inc. bought a new position in Palantir Technologies during the fourth quarter valued at approximately $832,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $325,000. Hedge funds and other 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.