Argus Begins Coverage on Palantir Technologies (NYSE:PLTR)

Argus started coverage on shares of Palantir Technologies (NYSE:PLTRFree Report) in a research note published on Monday, MarketBeat reports. The firm issued a buy rating and a $29.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, March 7th. HSBC increased their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a hold rating in a report on Tuesday, May 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a sell rating in a research note on Tuesday, May 7th. Finally, Bank of America boosted their target price 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. Five analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of Hold and a consensus price target of $21.25.

Check Out Our Latest Stock Analysis on PLTR

Palantir Technologies Trading Down 1.0 %

Shares of PLTR stock opened at $25.56 on Monday. The company has a market cap of $56.92 billion, a PE ratio of 213.02, a PEG ratio of 5.96 and a beta of 2.70. Palantir Technologies has a 12-month low of $13.56 and a 12-month high of $27.50. The business’s fifty day simple moving average is $22.21 and its 200-day simple moving average is $21.17.

Palantir Technologies (NYSE:PLTRGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. On average, equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,374,153 shares of company stock worth $239,976,945. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in PLTR. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $1,741,000. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Palantir Technologies during the third quarter worth $4,446,000. Raymond James Financial Services Advisors Inc. grew its stake in Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Palantir Technologies by 148.4% during the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after purchasing an additional 115,876 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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