Palantir Technologies (NYSE:PLTR) Upgraded at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Palantir Technologies (NYSE:PLTR) from a sell rating to a neutral rating in a research note published on Friday, Marketbeat reports.

Several other analysts also recently issued reports on the company. Royal Bank of Canada restated an underperform rating and issued a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Bank of America boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Wedbush restated an outperform rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Finally, HSBC downgraded Palantir Technologies from a buy rating to a hold rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $18.35.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $22.82 on Friday. The firm’s 50-day moving average is $23.42 and its two-hundred day moving average is $20.11. The company has a market capitalization of $50.49 billion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 5.52 and a beta of 2.78. Palantir Technologies has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. On average, analysts forecast that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC grew its stake in Palantir Technologies by 8.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 55,852 shares of the company’s stock worth $894,000 after buying an additional 4,300 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at $246,000. Exchange Traded Concepts LLC lifted its holdings in shares of Palantir Technologies by 6.5% during the third quarter. Exchange Traded Concepts LLC now owns 111,810 shares of the company’s stock valued at $1,789,000 after purchasing an additional 6,871 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Palantir Technologies by 0.3% during the third quarter. Handelsbanken Fonder AB now owns 381,075 shares of the company’s stock valued at $6,097,000 after buying an additional 1,000 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Palantir Technologies by 25.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 30,696 shares of the company’s stock valued at $491,000 after buying an additional 6,295 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.