Palantir Technologies (NYSE:PLTR) Stock Rating Lowered by Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR - Get Free Report) was downgraded by investment analysts at Monness Crespi & Hardt from a "neutral" rating to a "sell" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $20.00 price objective on the stock. Monness Crespi & Hardt's price objective points to a potential downside of 13.08% from the company's current price.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reiterated an "underperform" rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Jefferies Financial Group upgraded Palantir Technologies from an "underperform" rating to a "hold" rating and boosted their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Raymond James boosted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, February 6th. Finally, Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $18.35.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $1.50 during midday trading on Thursday, hitting $23.01. 69,794,850 shares of the company's stock were exchanged, compared to its average volume of 71,836,836. Palantir Technologies has a 52-week low of $7.28 and a 52-week high of $27.50. The stock has a 50-day moving average price of $22.40 and a two-hundred day moving average price of $19.03. The company has a market cap of $50.91 billion, a P/E ratio of 261.58, a PEG ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Peter Thiel sold 7,044,756 shares of the firm's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares of the company's stock, valued at approximately $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the sale, the director now owns 200,783 shares in the company, valued at $3,234,614.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The disclosure for this sale can be found here. Insiders sold 7,455,273 shares of company stock valued at $184,293,942 over the last 90 days. Corporate insiders own 13.96% of the company's stock.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. Qsemble Capital Management LP acquired a new position in Palantir Technologies during the 3rd quarter valued at $1,178,000. Trexquant Investment LP acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $4,446,000. Van Cleef Asset Management Inc raised its stake in shares of Palantir Technologies by 82.9% in the 2nd quarter. Van Cleef Asset Management Inc now owns 690,267 shares of the company's stock valued at $10,582,000 after buying an additional 312,767 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company's stock valued at $10,959,000 after buying an additional 25,787 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Palantir Technologies by 148.4% in the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company's stock worth $3,103,000 after purchasing an additional 115,876 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.