Palantir Technologies (NYSE:PLTR) Coverage Initiated at Robert W. Baird

Robert W. Baird began coverage on shares of Palantir Technologies (NYSE:PLTR) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $70.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Mizuho boosted their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Northland Securities boosted their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.40.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $76.07 on Thursday. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $80.91. The business has a 50-day simple moving average of $55.75 and a two-hundred day simple moving average of $38.51. The firm has a market cap of $173.29 billion, a price-to-earnings ratio of 380.35, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This represents a 99.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,118,366 shares of company stock valued at $2,029,875,392. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently modified their holdings of the company. Naples Global Advisors LLC raised its holdings in Palantir Technologies by 11.1% during the 2nd quarter. Naples Global Advisors LLC now owns 10,000 shares of the company’s stock valued at $253,000 after buying an additional 1,000 shares during the period. Miracle Mile Advisors LLC raised its holdings in Palantir Technologies by 10.4% during the 2nd quarter. Miracle Mile Advisors LLC now owns 15,010 shares of the company’s stock valued at $380,000 after buying an additional 1,420 shares during the period. Blue Trust Inc. raised its holdings in Palantir Technologies by 42.3% during the 2nd quarter. Blue Trust Inc. now owns 16,646 shares of the company’s stock valued at $422,000 after buying an additional 4,945 shares during the period. Brookstone Capital Management raised its holdings in Palantir Technologies by 34.7% during the 2nd quarter. Brookstone Capital Management now owns 31,975 shares of the company’s stock valued at $810,000 after buying an additional 8,243 shares during the period. Finally, Gradient Investments LLC raised its holdings in Palantir Technologies by 21.4% during the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares during the period. 45.65% of the stock is 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.