Palantir Technologies (NYSE:PLTR) Stock Rating Lowered by Argus

Argus cut shares of Palantir Technologies (NYSE:PLTR) from a buy rating to a hold rating in a report issued on Thursday, Marketbeat.com reports.

A number of other analysts have also issued reports on the company. Wedbush lifted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson boosted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Trading Up 4.5 %

NYSE PLTR opened at $58.39 on Thursday. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $58.48. The stock has a 50-day moving average of $40.13 and a 200 day moving average of $30.65. The stock has a market capitalization of $130.76 billion, a price-to-earnings ratio of 291.96 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the sale, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. This trade represents a 0.00 % 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. In related news, insider David A. Glazer sold 72,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at $9,292,014.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,482,878 shares of company stock valued at $1,044,202,496 in the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.