UBS Group Begins Coverage on Palantir Technologies (NASDAQ:PLTR)

UBS Group initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR - Free Report) in a research note released on Thursday, MarketBeat reports. The brokerage issued a neutral rating and a $80.00 price target on the stock.

PLTR has been the topic of a number of other research reports. Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a report on Friday, December 13th. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, DA Davidson upped their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $41.00.

Palantir Technologies Stock Up 3.8 %

Shares of NASDAQ PLTR traded up $2.70 during trading on Thursday, hitting $74.21. The company had a trading volume of 99,146,883 shares, compared to its average volume of 60,672,461. The firm has a market capitalization of $169.05 billion, a price-to-earnings ratio of 371.07, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The stock has a fifty day simple moving average of $57.71 and a two-hundred day simple moving average of $39.61. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $80.91.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. During the same period in the previous year, the firm posted $0.03 EPS. Palantir Technologies's revenue was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company's stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Thiel sold 4,254,666 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,612,366 shares of company stock valued at $1,867,342,292 over the last quarter. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. ARK Investment Management LLC raised its holdings in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company's stock worth $329,875,000 after purchasing an additional 277,623 shares in the last quarter. Finally, FMR LLC lifted its position in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company's stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the period. 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.