Palantir Technologies (NYSE:PLTR) Now Covered by Analysts at HSBC

HSBC started coverage on shares of Palantir Technologies (NYSE:PLTR) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued a hold rating and a $16.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Mizuho lifted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a neutral rating in a research report on Tuesday, August 8th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. DA Davidson lifted their price target on shares of Palantir Technologies from $8.50 to $15.00 and gave the company a neutral rating in a research report on Tuesday, August 8th. Morgan Stanley cut shares of Palantir Technologies from an equal weight rating to an underweight rating and lifted their price target for the company from $8.00 to $9.00 in a research report on Thursday, August 31st. Finally, Wolfe Research lifted their price target on shares of Palantir Technologies from $6.00 to $7.50 and gave the company an underperform rating in a research report on Tuesday, August 8th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $13.25.

Palantir Technologies Trading Up 0.8 %

NYSE:PLTR opened at $15.46 on Friday. The company has a 50-day moving average price of $16.16 and a 200-day moving average price of $12.77. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $20.24. The stock has a market cap of $33.27 billion, a price-to-earnings ratio of -515.33, a P/E/G ratio of 3.98 and a beta of 2.80.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 7th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Palantir Technologies had a negative net margin of 2.35% and a negative return on equity of 4.37%. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $533.88 million. Equities analysts forecast that Palantir Technologies will post 0.07 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 325,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $15.40, for a total value of $5,005,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $99,056,773.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $15.71, for a total transaction of $56,477.45. Following the completion of the sale, the director now directly owns 61,479 shares in the company, valued at $965,835.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 325,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $15.40, for a total transaction of $5,005,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $99,056,773.20. The disclosure for this sale can be found here. Insiders sold 2,613,619 shares of company stock worth $49,214,052 over the last three months. 13.96% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. Commerce Bank grew its position in Palantir Technologies by 7.8% during the first quarter. Commerce Bank now owns 96,261 shares of the company’s stock valued at $813,000 after buying an additional 6,964 shares during the period. abrdn plc lifted its holdings in Palantir Technologies by 90.3% during the first quarter. abrdn plc now owns 324,760 shares of the company’s stock valued at $2,744,000 after purchasing an additional 154,130 shares in the last quarter. WBH Advisory Inc. purchased a new position in Palantir Technologies during the first quarter valued at approximately $315,000. Franklin Resources Inc. lifted its holdings in Palantir Technologies by 17.6% during the fourth quarter. Franklin Resources Inc. now owns 68,985 shares of the company’s stock valued at $443,000 after purchasing an additional 10,343 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in Palantir Technologies by 107.2% during the fourth quarter. Kovack Advisors Inc. now owns 48,911 shares of the company’s stock valued at $314,000 after purchasing an additional 25,305 shares in the last quarter. 34.21% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.