Palantir Technologies (NASDAQ:PLTR) Rating Increased to Hold at Argus

Argus upgraded shares of Palantir Technologies (NASDAQ:PLTRFree Report) to a hold rating in a report published on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Palantir Technologies in a research note on Tuesday, February 3rd. HSBC upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $200.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 3rd. Finally, Loop Capital cut their target price on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $191.05.

Read Our Latest Research Report on PLTR

Palantir Technologies Trading Down 3.6%

PLTR traded down $5.03 during midday trading on Monday, reaching $134.49. The company’s stock had a trading volume of 31,679,757 shares, compared to its average volume of 49,625,773. The company has a fifty day simple moving average of $172.72 and a 200 day simple moving average of $173.16. The stock has a market cap of $320.54 billion, a P/E ratio of 213.21, a PEG ratio of 2.74 and a beta of 1.64. Palantir Technologies has a twelve month low of $66.12 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.14 earnings per share. Palantir Technologies’s quarterly revenue was up 70.0% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 19,004 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Buckley sold 1,252 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $157.50, for a total value of $197,190.00. Following the transaction, the insider directly owned 47,044 shares in the company, valued at approximately $7,409,430. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,023,844 shares of company stock worth $167,455,085. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Decker Retirement Planning Inc. raised its stake in Palantir Technologies by 778.7% during the 3rd quarter. Decker Retirement Planning Inc. now owns 61,326 shares of the company’s stock worth $11,187,000 after buying an additional 54,347 shares during the period. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the last quarter. Prentice Wealth Management LLC bought a new position in Palantir Technologies during the 3rd quarter valued at $550,000. Watershed Private Wealth LLC boosted its holdings in Palantir Technologies by 75.3% during the third quarter. Watershed Private Wealth LLC now owns 7,798 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,350 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after buying an additional 12,300 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

About Palantir Technologies

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

Further Reading

Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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