Palantir Technologies (NYSE:PLTR) Stock Rating Lowered by Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR) was downgraded by analysts at Monness Crespi & Hardt from a “neutral” rating to a “sell” rating in a research report issued on Friday, MarketBeat reports. They currently have a $20.00 price objective on the stock. Monness Crespi & Hardt’s price objective would indicate a potential downside of 16.11% from the stock’s current price.

Several other equities research analysts have also recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday, May 7th. Citigroup boosted their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Finally, Mizuho boosted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.25.

Palantir Technologies Trading Down 6.7 %

NYSE PLTR opened at $23.84 on Friday. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 198.67, a PEG ratio of 5.90 and a beta of 2.70. Palantir Technologies has a 12 month low of $13.56 and a 12 month high of $27.50. The company’s 50 day moving average is $22.29 and its two-hundred day moving average is $21.24.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Sell-side analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insider Activity

In other news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,374,153 shares of company stock valued at $239,976,945. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the business. Halpern Financial Inc. raised its holdings in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in Palantir Technologies by 4.8% in the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares in the last quarter. GSB Wealth Management LLC raised its holdings in Palantir Technologies by 4.6% in the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after purchasing an additional 595 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other 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.