Palantir Technologies (NASDAQ:PLTR) Given "Underperform" Rating at Royal Bank of Canada

Palantir Technologies (NASDAQ:PLTR - Get Free Report)'s stock had its "underperform" rating reiterated by equities research analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $40.00 target price on the stock. Royal Bank of Canada's price objective suggests a potential downside of 65.23% from the stock's previous close.

Several other research firms have also recently commented on PLTR. DA Davidson lowered their target price on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Mizuho raised their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $74.71.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $0.38 on Tuesday, hitting $115.03. The company's stock had a trading volume of 52,044,217 shares, compared to its average volume of 74,261,567. The company has a market capitalization of $269.78 billion, a price-to-earnings ratio of 605.05, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies has a 12 month low of $20.50 and a 12 month high of $125.41. The stock's 50-day moving average is $89.39 and its two-hundred day moving average is $77.85.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of 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. In the last quarter, insiders sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the period. HighMark Wealth Management LLC grew its holdings in Palantir Technologies by 73.5% during the fourth 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 period. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.