Palantir Technologies’ (PLTR) “Underperform” Rating Reiterated at William Blair

William Blair restated their underperform rating on shares of Palantir Technologies (NYSE:PLTR) in a report issued on Wednesday,RTT News reports.

A number of other brokerages also recently issued reports on PLTR. Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Mizuho raised their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Wedbush increased their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

Palantir Technologies Price Performance

PLTR stock traded up $3.71 during mid-day trading on Wednesday, reaching $75.22. The company had a trading volume of 48,467,943 shares, compared to its average volume of 60,443,387. The firm has a 50 day moving average of $57.71 and a 200 day moving average of $39.61. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91. The company has a market capitalization of $171.35 billion, a PE ratio of 376.12, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Analysts anticipate that Palantir Technologies will post 0.21 EPS for the current year.

Insider Activity

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the completion of the transaction, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This represents a 7.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,612,366 shares of company stock valued at $1,867,342,292 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Finally, FMR LLC raised its position in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.