Palantir Technologies (NASDAQ:PLTR) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Key Points

• Palantir Technologies has been upgraded by Deutsche Bank from a "sell" to a "hold" rating, with a price objective of $160.00, indicating a potential downside of 0.41% from its previous close.
• In recent earnings, the company reported $1 billion in revenue, surpassing analysts' expectations and showing a 48% year-over-year increase in revenue.
• Insider trading activity revealed that insiders sold a total of 1,485,632 shares valued at approximately $191 million over the last three months, reducing their ownership to about 12.93% of the company.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $160.00 price objective on the stock. Deutsche Bank Aktiengesellschaft's price target would indicate a potential downside of 0.41% from the company's previous close.

Several other research analysts have also recently weighed in on PLTR. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Piper Sandler reissued an "overweight" rating and issued a $170.00 price target on shares of Palantir Technologies in a report on Monday. Finally, Wedbush set a $160.00 price target on shares of Palantir Technologies in a report on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $103.40.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $160.66 on Tuesday. The firm's 50-day moving average is $141.12 and its 200-day moving average is $113.19. The stock has a market cap of $379.14 billion, a price-to-earnings ratio of 698.52, a PEG ratio of 13.15 and a beta of 2.60. Palantir Technologies has a 52-week low of $21.23 and a 52-week high of $161.40.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Sell-side analysts predict that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last three months. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies in the second quarter valued at approximately $25,000. Briaud Financial Planning Inc acquired a new stake in Palantir Technologies in the second quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Palantir Technologies in the second quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC acquired a new stake in Palantir Technologies in the second quarter valued at approximately $31,000. Finally, Tradewinds Capital Management LLC boosted its position in Palantir Technologies by 147.4% in the second quarter. Tradewinds Capital Management LLC now owns 235 shares of the company's stock valued at $32,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

About Palantir Technologies

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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