Palantir Technologies (NASDAQ:PLTR) Earns “Underweight” Rating from Morgan Stanley

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “underweight” rating reiterated by equities research analysts at Morgan Stanley in a research report issued on Monday, Marketbeat.com reports. They currently have a $60.00 price objective on the stock. Morgan Stanley’s price objective indicates a potential downside of 14.27% from the stock’s current price.

PLTR has been the topic of several other reports. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Mizuho raised their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $69.99 on Monday. The company has a 50-day simple moving average of $67.40 and a two-hundred day simple moving average of $45.06. The stock has a market capitalization of $159.44 billion, a PE ratio of 349.97, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies has a 52-week low of $16.03 and a 52-week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data 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 net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,645,510 shares of company stock valued at $1,444,267,325 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue boosted 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. increased its stake in Palantir Technologies by 19.2% in the 3rd 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 during the last quarter. Tyler Stone Wealth Management raised its holdings in shares of Palantir Technologies by 97.9% during the 3rd 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 in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the 3rd quarter valued at approximately $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.