Palantir Technologies (NYSE:PLTR) Lifted to Neutral at Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR - Get Free Report) was upgraded by investment analysts at Monness Crespi & Hardt from a "sell" rating to a "neutral" rating in a research report issued on Friday, MarketBeat reports.

A number of other research analysts have also recently commented on PLTR. Citigroup upgraded Palantir Technologies from a "sell" rating to a "neutral" rating and raised their price target for the stock from $10.00 to $20.00 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 target price on the stock. in a research report on Wednesday, February 14th. Bank of America lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Royal Bank of Canada reiterated an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, Wedbush reiterated an "outperform" rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $18.35.

Palantir Technologies Trading Up 3.7 %

PLTR stock traded up $0.80 during trading hours on Friday, hitting $22.52. 32,898,213 shares of the stock were exchanged, compared to its average volume of 62,713,730. The firm has a market capitalization of $49.82 billion, a P/E ratio of 250.17, a P/E/G ratio of 5.29 and a beta of 2.78. The company has a 50-day simple moving average of $23.45 and a two-hundred day simple moving average of $20.05. Palantir Technologies has a 12 month low of $7.28 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share 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. On average, equities research analysts predict that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity

In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now directly owns 191,783 shares of the company's stock, valued at $4,777,314.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.68, for a total value of $142,080.00. Following the transaction, the director now directly owns 175,830 shares of the company's stock, valued at $4,163,654.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company's stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. Morgan Stanley increased its holdings in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock worth $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company's stock worth $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. Northern Trust Corp increased its holdings in Palantir Technologies by 5.5% in the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company's stock worth $183,979,000 after purchasing an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company's stock worth $187,803,000 after purchasing an additional 1,514,232 shares in the last quarter. 45.65% of the stock is currently 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.