Analysts Set Palantir Technologies Inc. (NASDAQ:PLTR) PT at $74.71

Palantir Technologies Inc. (NASDAQ:PLTR) has received a consensus rating of “Reduce” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $83.95.

PLTR has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Loop Capital upped their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. UBS Group lifted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock valued at $252,115,667 over the last 90 days. Insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its stake in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC lifted its stake in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.5 %

Shares of NASDAQ:PLTR opened at $117.36 on Friday. The firm has a market cap of $275.25 billion, a P/E ratio of 617.72, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies has a 12-month low of $20.60 and a 12-month high of $125.41. The business has a fifty day simple moving average of $94.23 and a 200 day simple moving average of $82.26.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the company earned $0.08 earnings per share. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies will post 0.31 EPS for the current year.

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.