Monness Crespi & Hardt Downgrades Palantir Technologies (NYSE:PLTR) to Sell

Palantir Technologies (NYSE:PLTR) was downgraded by analysts at Monness Crespi & Hardt from a “neutral” rating to a “sell” rating in a research note issued to investors on Friday, Briefing.com reports. They presently have a $20.00 price target on the stock. Monness Crespi & Hardt’s price objective would indicate a potential downside of 21.75% from the company’s previous close.

Several other research analysts also recently commented on PLTR. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Bank of America boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Citigroup boosted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Finally, Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Trading Down 1.0 %

Shares of PLTR stock opened at $25.56 on Friday. The stock has a market cap of $56.92 billion, a P/E ratio of 213.02, a price-to-earnings-growth ratio of 5.96 and a beta of 2.70. The stock has a 50 day simple moving average of $22.21 and a 200 day simple moving average of $21.17. Palantir Technologies has a 1 year low of $13.56 and a 1 year high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 10,907 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. Insiders sold 11,374,153 shares of company stock worth $239,976,945 over the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Morgan Stanley boosted its position in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. Northern Trust Corp boosted its position in shares of Palantir Technologies by 5.5% during the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after purchasing an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in shares of Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

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.