Palantir Technologies Inc. (NYSE:PLTR) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average rating of “Reduce” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $23.14.

PLTR has been the topic of several analyst reports. 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 report on Tuesday. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Monness Crespi & Hardt dropped their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday.

Palantir Technologies Trading Up 11.2 %

Shares of NYSE:PLTR opened at $29.28 on Friday. The stock has a market capitalization of $65.20 billion, a PE ratio of 244.00, a P/E/G ratio of 6.02 and a beta of 2.71. Palantir Technologies has a 1 year low of $13.68 and a 1 year high of $29.83. The firm has a fifty day moving average price of $25.80 and a 200 day moving average price of $23.52.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the company posted $0.01 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,396 shares of company stock worth $4,389,707. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the second quarter valued at $25,000. First United Bank & Trust bought a new position in shares of Palantir Technologies during the fourth quarter valued at $26,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during 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.