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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned a consensus rating of “Reduce” from the twenty-two analysts that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $73.21.

PLTR has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Mizuho increased their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock valued at $477,414,743 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. Finally, FMR LLC lifted its stake in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 10.5 %

Palantir Technologies stock opened at $90.68 on Tuesday. The firm has a market cap of $206.57 billion, a PE ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $125.41. The company’s 50 day moving average is $86.17 and its two-hundred day moving average is $60.27.

Palantir Technologies Company Profile

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.