Palantir Technologies (NYSE:PLTR) Cut to Sell at Monness Crespi & Hardt

Monness Crespi & Hardt downgraded shares of Palantir Technologies (NYSE:PLTRFree Report) from a neutral rating to a sell rating in a report released on Friday, MarketBeat.com reports. Monness Crespi & Hardt currently has $20.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Argus assumed coverage on Palantir Technologies in a research report on Monday, June 17th. They set a buy rating and a $29.00 price objective for the company. William Blair reissued an underperform rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. Wedbush reiterated an outperform rating and set a $35.00 target price on shares of Palantir Technologies in a research note on Monday, May 6th. Finally, Royal Bank of Canada raised their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an underperform rating in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $21.25.

Get Our Latest Stock Analysis on Palantir Technologies

Palantir Technologies Stock Down 6.7 %

Shares of PLTR stock opened at $23.84 on Friday. Palantir Technologies has a 12 month low of $13.56 and a 12 month high of $27.50. The company has a market cap of $53.09 billion, a PE ratio of 198.68, a price-to-earnings-growth ratio of 5.90 and a beta of 2.70. The business’s 50 day moving average is $22.29 and its two-hundred day moving average is $21.26.

Palantir Technologies (NYSE:PLTRGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. As a group, equities analysts expect that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,374,153 shares of company stock valued at $239,976,945. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the stock. Pursue Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter valued at about $1,741,000. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $4,446,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after buying an additional 116,220 shares during the last quarter. Finally, Udine Wealth Management Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $1,612,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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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.

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