Palantir Technologies (NYSE:PLTR) Rating Lowered to Sell at Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR) was downgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “sell” rating in a report issued on Thursday, MarketBeat reports. They currently have a $20.00 price target on the stock. Monness Crespi & Hardt’s price target suggests a potential downside of 18.37% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Wednesday, February 14th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Trading Down 1.6 %

Shares of PLTR stock opened at $24.50 on Thursday. The company’s fifty day simple moving average is $22.40 and its 200-day simple moving average is $19.03. Palantir Technologies has a 52 week low of $7.28 and a 52 week high of $27.50. The company has a market cap of $54.21 billion, a PE ratio of 272.25, a P/E/G ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Equities research analysts expect that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the completion of the transaction, the director now directly owns 175,830 shares of the company’s stock, valued at approximately $4,163,654.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total transaction of $142,080.00. Following the completion of the transaction, the director now directly owns 175,830 shares of the company’s stock, valued at $4,163,654.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,455,273 shares of company stock valued at $184,293,942. Insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTR. AlphaCrest Capital Management LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $206,000. D.A. Davidson & CO. boosted its stake in Palantir Technologies by 18.6% during the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares during the period. MetLife Investment Management LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $1,475,000. Cibc World Market Inc. lifted its stake in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock worth $3,114,000 after acquiring an additional 62,814 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after acquiring an additional 482,171 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.