Palantir Technologies (NYSE:PLTR) Cut to Underperform at Jefferies Financial Group

Jefferies Financial Group lowered shares of Palantir Technologies (NYSE:PLTR) from a hold rating to an underperform rating in a research report released on Thursday morning, MarketBeat reports. They currently have $28.00 target price on the stock.

Several other research analysts have also recently weighed in on PLTR. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Bank of America raised their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush boosted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $58.39 on Thursday. The firm has a 50-day moving average of $40.13 and a 200-day moving average of $30.65. Palantir Technologies has a one year low of $15.66 and a one year high of $58.48. The company has a market cap of $130.76 billion, a P/E ratio of 291.96 and a beta of 2.70.

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

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,482,878 shares of company stock worth $1,044,202,496 in the last quarter. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in Palantir Technologies by 22.9% in 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 acquiring an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new position in Palantir Technologies in the 3rd quarter worth $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in Palantir Technologies in the third quarter worth $6,339,000. Seven Grand Managers LLC purchased a new stake in Palantir Technologies during the third quarter valued at about $930,000. Finally, Silvant Capital Management LLC grew its stake in shares of Palantir Technologies by 28.2% during the third quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock valued at $8,613,000 after buying an additional 50,883 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.