Palantir Technologies (NASDAQ:PLTR) Upgraded to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Palantir Technologies (NASDAQ:PLTR) to a hold rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has $72.00 price objective on the stock.

PLTR has been the topic of a number of other research reports. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird assumed coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Bank of America lifted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Price Performance

PLTR opened at $71.77 on Thursday. The firm has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. Palantir Technologies has a one year low of $16.03 and a one year high of $84.80. The company has a fifty day moving average price of $70.22 and a 200-day moving average price of $46.85.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company earned $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts expect that Palantir Technologies will post 0.2 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, 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 completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management grew its stake in shares of Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the third quarter valued at $639,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.