Palantir Technologies Inc. (NASDAQ:PLTR) Given Average Rating of "Reduce" by Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) have received a consensus recommendation of "Reduce" from the twenty-three research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $89.32.

A number of equities analysts recently commented on PLTR shares. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. UBS Group raised their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth about $1,360,191,000. Nuveen LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD boosted its position in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $137.30 on Monday. Palantir Technologies has a 12 month low of $21.23 and a 12 month high of $144.86. The firm has a market capitalization of $324.02 billion, a PE ratio of 596.96, a P/E/G ratio of 11.72 and a beta of 2.64. The company's 50 day simple moving average is $120.65 and its 200 day simple moving average is $97.46.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

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.

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