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

Palantir Technologies (NYSE:PLTR) was downgraded by research analysts at Monness Crespi & Hardt from a “neutral” rating to a “sell” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $20.00 price objective on the stock. Monness Crespi & Hardt’s price objective would suggest a potential downside of 18.37% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Mizuho upped their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Raymond James raised their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Down 1.6 %

Palantir Technologies stock opened at $24.50 on Thursday. The firm has a market cap of $54.21 billion, a PE ratio of 272.25, a P/E/G ratio of 6.10 and a beta of 2.82. The stock’s 50 day simple moving average is $22.40 and its two-hundred day simple moving average is $19.03. Palantir Technologies has a 12 month low of $7.28 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, equities research analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Insiders have sold 7,455,273 shares of company stock valued at $184,293,942 in the last ninety days. 13.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 22.4% in the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after acquiring an additional 28,563,749 shares during the last quarter. Scout Investments Inc. purchased a new stake in Palantir Technologies in the second quarter valued at approximately $199,052,000. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $39,395,000. Jericho Capital Asset Management L.P. purchased a new stake in Palantir Technologies in the second quarter valued at approximately $76,650,000. Finally, Morgan Stanley raised its position in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.