Palantir Technologies (NASDAQ:PLTR) Upgraded at Morgan Stanley

Palantir Technologies (NASDAQ:PLTR) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The firm currently has a $95.00 price target on the stock, up from their prior price target of $60.00. Morgan Stanley’s target price would indicate a potential upside of 13.45% from the stock’s current price.

A number of other equities research analysts have also issued reports on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target on the stock. Bank of America increased their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.56.

Palantir Technologies Trading Up 1.5 %

PLTR stock opened at $83.74 on Tuesday. Palantir Technologies has a 12-month low of $16.48 and a 12-month high of $85.22. The business’s 50-day moving average is $73.71 and its 200 day moving average is $51.00. The stock has a market cap of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,153,753 shares of company stock valued at $1,287,042,675. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. State Street Corp raised its holdings in Palantir Technologies by 96.4% during the third 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 grew its holdings in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. International Assets Investment Management LLC increased its stake in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.