Palantir Technologies (NYSE:PLTR) PT Raised to $28.00

Palantir Technologies (NYSE:PLTR) had its price objective boosted by Jefferies Financial Group from $24.00 to $28.00 in a report published on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

PLTR has been the topic of several other research reports. Citigroup boosted their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an underperform rating in a research note on Tuesday, May 7th. DA Davidson upped their price target 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. HSBC upped their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a hold rating in a research note on Tuesday, May 7th. Finally, Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a buy rating and a $29.00 price target on the stock. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $21.96.

Palantir Technologies Stock Performance

PLTR stock opened at $26.08 on Monday. Palantir Technologies has a one year low of $13.68 and a one year high of $29.83. The company’s fifty day moving average price is $25.29 and its 200-day moving average price is $23.18. The company has a market capitalization of $58.08 billion, a PE ratio of 217.35, a price-to-earnings-growth ratio of 6.21 and a beta of 2.71.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,447,179 shares of company stock worth $242,285,913. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Palantir Technologies by 1,784.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after buying an additional 2,742,071 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at about $46,542,000. Finally, Coatue Management LLC lifted its position in shares of Palantir Technologies by 285.6% during the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after buying an additional 2,553,432 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.