Jefferies Financial Group Downgrades Palantir Technologies (NYSE:PLTR) to Underperform

Palantir Technologies (NYSE:PLTR) was downgraded by research analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a report released on Thursday, Marketbeat.com reports. They presently have a $28.00 target price on the stock. Jefferies Financial Group’s price objective would suggest a potential downside of 52.07% from the stock’s current price.

Several other brokerages have also issued reports on PLTR. Wedbush increased their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Citigroup upped their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Up 4.5 %

Shares of NYSE:PLTR opened at $58.42 on Thursday. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $58.48. The company has a 50-day moving average price of $39.60 and a 200-day moving average price of $30.33. The company has a market cap of $130.83 billion, a price-to-earnings ratio of 290.86 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data 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 net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 160,000 shares of Palantir Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $32.00, for a total transaction of $5,120,000.00. Following the transaction, the insider now owns 372,565 shares in the company, valued at approximately $11,922,080. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,482,878 shares of company stock worth $1,044,202,496 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walter & Keenan Wealth Management LLC IN ADV grew its stake in Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC boosted its holdings in shares of Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC grew its position in shares of Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares in the last quarter. LCM Capital Management Inc increased its holdings in shares of Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its stake in Palantir Technologies by 0.6% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock valued at $1,799,000 after buying an additional 300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.