Palantir Technologies Inc. (NASDAQ:PLTR) Receives Consensus Rating of “Reduce” from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTR) has been assigned an average recommendation of “Reduce” from the twenty-two brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $74.45.

Several brokerages have issued reports on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Finally, Robert W. Baird upped their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th.

Insiders Place Their Bets

In related 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 value of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This represents a 99.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction 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 sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,069,785 shares of company stock worth $254,537,238. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in PLTR. Continuum Advisory LLC lifted its holdings in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the period. Heritage Wealth Management Inc. CA raised its holdings in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the period. True Wealth Design LLC raised its holdings in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the period. Westover Capital Advisors LLC grew its position in shares of Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after acquiring an additional 132 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 8.3 %

PLTR stock opened at $86.24 on Friday. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $125.41. The stock’s 50 day moving average is $87.83 and its 200-day moving average is $64.98. The firm has a market capitalization of $202.26 billion, a PE ratio of 453.92, a P/E/G ratio of 10.84 and a beta of 2.81.

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.