Palantir Technologies (NASDAQ:PLTR) Raised to “Hold” at Cantor Fitzgerald

Palantir Technologies (NASDAQ:PLTR) was upgraded by investment analysts at Cantor Fitzgerald to a “hold” rating in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a $72.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 0.32% from the stock’s current price.

Several other equities research analysts have also weighed in on PLTR. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Up 3.7 %

NASDAQ PLTR opened at $71.77 on Thursday. Palantir Technologies has a 52 week low of $16.03 and a 52 week high of $84.80. The firm has a 50 day moving average of $70.22 and a two-hundred day moving average of $46.85. The stock has a market capitalization of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS 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 firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts expect that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares of the company’s stock, valued at $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC boosted its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% in the third 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. Finally, Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.