Daiwa Capital Markets Initiates Coverage on Palantir Technologies (NASDAQ:PLTR)

Analysts at Daiwa Capital Markets initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $90.00 price target on the stock. Daiwa Capital Markets’ price objective indicates a potential upside of 2.92% from the stock’s previous close.

Several other equities research analysts have also commented on PLTR. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Loop Capital dropped their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.19.

Palantir Technologies Price Performance

PLTR stock opened at $87.45 on Tuesday. The company has a market cap of $205.10 billion, a P/E ratio of 460.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $125.41. The stock’s fifty day moving average price is $92.68 and its 200-day moving average price is $70.34.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.