Palantir Technologies (NASDAQ:PLTR) Raised to Hold at Argus

Palantir Technologies (NASDAQ:PLTRGet Free Report) was upgraded by Argus to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on PLTR. Bank of America boosted their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley upped their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $200.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 3rd. UBS Group decreased their target price on Palantir Technologies from $205.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $191.05.

Check Out Our Latest Stock Analysis on PLTR

Palantir Technologies Trading Down 4.2%

Shares of NASDAQ PLTR traded down $5.82 during midday trading on Monday, hitting $133.69. The company’s stock had a trading volume of 32,949,203 shares, compared to its average volume of 49,692,445. The firm has a market capitalization of $318.65 billion, a price-to-earnings ratio of 212.44, a P/E/G ratio of 2.74 and a beta of 1.64. The stock has a fifty day moving average price of $172.72 and a 200 day moving average price of $173.16. Palantir Technologies has a one year low of $66.12 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its earnings results on Monday, February 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The business’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities research analysts predict that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 9,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $185.91, for a total transaction of $1,673,190.00. Following the sale, the insider directly owned 413,639 shares of the company’s stock, valued at approximately $76,899,626.49. The trade was a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 12,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $181.35, for a total transaction of $2,176,200.00. Following the completion of the sale, the insider directly owned 239,409 shares in the company, valued at $43,416,822.15. This represents a 4.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,023,844 shares of company stock worth $167,455,085. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $5,149,641,000. Vanguard Group Inc. grew its position in Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after acquiring an additional 8,168,604 shares during the last quarter. State Street Corp boosted its position in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the period. Amundi grew its stake in Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after purchasing an additional 4,373,201 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Palantir Technologies by 637.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,459,068 shares of the company’s stock valued at $792,610,000 after buying an additional 3,854,452 shares during the period. 45.65% of the stock is owned by institutional investors.

More Palantir Technologies News

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About Palantir Technologies

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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