Palantir Technologies Inc. (NASDAQ:PLTR) Receives Average Recommendation of “Reduce” from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTR) has been given an average rating of “Reduce” by the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $74.95.

A number of equities research analysts have recently weighed in on the company. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. DA Davidson cut their price target on shares of Palantir Technologies from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Mizuho increased their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC lifted its holdings in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC bought a new position in Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 6.2 %

Shares of PLTR opened at $98.40 on Wednesday. The stock has a market capitalization of $230.78 billion, a P/E ratio of 517.92, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a fifty day simple moving average of $92.38 and a two-hundred day simple moving average of $73.83.

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.