Palantir Technologies' (PLTR) Underperform Rating Reiterated at William Blair

William Blair reaffirmed their underperform rating on shares of Palantir Technologies (NYSE:PLTR - Free Report) in a research note issued to investors on Wednesday morning,RTT News reports.

Several other analysts have also commented on PLTR. Argus lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Royal Bank of Canada reiterated an "underperform" rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush raised their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, November 25th. Raymond James lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Finally, Northland Capmk upgraded shares of Palantir Technologies to a "hold" rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $35.64.

Palantir Technologies Stock Performance

NYSE PLTR traded down $1.11 during trading hours on Wednesday, hitting $69.85. The company had a trading volume of 86,079,431 shares, compared to its average volume of 58,959,184. The business has a 50 day moving average of $50.77 and a 200-day moving average of $35.95. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $71.37. The company has a market cap of $159.12 billion, a PE ratio of 349.27, a price-to-earnings-growth ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Sell-side analysts expect that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.19, for a total transaction of $200,799.50. Following the completion of the sale, the director now directly owns 158,280 shares of the company's stock, valued at approximately $5,253,313.20. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,423,181 shares of company stock valued at $1,972,588,658. Company insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Massmutual Trust Co. FSB ADV raised its holdings in shares of Palantir Technologies by 49.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,012 shares of the company's stock valued at $51,000 after acquiring an additional 665 shares during the period. Mather Group LLC. raised its holdings in shares of Palantir Technologies by 369.3% during the second quarter. Mather Group LLC. now owns 1,572 shares of the company's stock valued at $40,000 after acquiring an additional 1,237 shares during the period. CWM LLC raised its holdings in shares of Palantir Technologies by 39.4% during the second quarter. CWM LLC now owns 96,345 shares of the company's stock valued at $2,440,000 after acquiring an additional 27,252 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company's stock valued at $916,000 after acquiring an additional 416 shares during the period. Finally, Csenge Advisory Group raised its holdings in shares of Palantir Technologies by 30.3% during the second quarter. Csenge Advisory Group now owns 16,444 shares of the company's stock valued at $417,000 after acquiring an additional 3,826 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.