Palantir Technologies (NYSE:PLTR) Downgraded by Mizuho to “Underperform”

Palantir Technologies (NYSE:PLTR) was downgraded by investment analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $22.00 price target on the stock, up from their previous price target of $21.00. Mizuho’s price objective would indicate a potential downside of 22.04% from the company’s previous close.

PLTR has been the subject of a number of other reports. DA Davidson boosted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, May 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.32.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $28.22 on Tuesday. The firm has a market capitalization of $62.84 billion, a P/E ratio of 235.19, a price-to-earnings-growth ratio of 6.62 and a beta of 2.71. Palantir Technologies has a 1-year low of $13.68 and a 1-year high of $29.30. The company’s 50-day moving average is $23.95 and its 200 day moving average is $22.39.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Research analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Insiders sold 11,377,179 shares of company stock worth $240,083,913 in the last three months. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First United Bank & Trust purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $26,000. West Paces Advisors Inc. grew its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Bogart Wealth LLC raised its holdings in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after buying an additional 1,065 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.