Palantir Technologies (NYSE:PLTR) Sets New 1-Year Low After … – MarketBeat
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Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $10.00 to $8.00. Morgan Stanley currently has an equal weight rating on the stock. Palantir Technologies traded as low as $6.41 and last traded at $6.41, with a volume of 970462 shares changing hands. The stock had previously closed at $6.90.
Several other equities research analysts also recently commented on the company. The Goldman Sachs Group dropped their target price on Palantir Technologies to $9.00 in a report on Tuesday, November 15th. Royal Bank of Canada reduced their price objective on shares of Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Palantir Technologies from $8.00 to $7.00 in a research note on Tuesday, November 8th. Raymond James reduced their price target on shares of Palantir Technologies from $20.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 8th. Finally, Citigroup lowered their price objective on Palantir Technologies from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Friday, November 11th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.83.
Insider Activity
In related news, insider Stephen Andrew Cohen sold 79,761 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $7.25, for a total transaction of $578,267.25. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $4,292. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Stephen Andrew Cohen sold 79,761 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $7.25, for a total transaction of $578,267.25. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $4,292. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $7.24, for a total value of $362,000.00. Following the sale, the insider now directly owns 1,855,012 shares in the company, valued at approximately $13,430,286.88. The disclosure for this sale can be found here. Insiders sold 1,078,739 shares of company stock valued at $7,606,842 in the last quarter. 13.22% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Palantir Technologies
Hedge funds have recently modified their holdings of the stock. Tradition Wealth Management LLC increased its holdings in Palantir Technologies by 26.1% in the 2nd quarter. Tradition Wealth Management LLC now owns 5,002 shares of the company’s stock valued at $45,000 after acquiring an additional 1,034 shares during the last quarter. Sfmg LLC increased its holdings in shares of Palantir Technologies by 2.5% in the second quarter. Sfmg LLC now owns 42,783 shares of the company’s stock worth $388,000 after purchasing an additional 1,047 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Palantir Technologies by 19.6% in the second quarter. AdvisorNet Financial Inc now owns 7,045 shares of the company’s stock worth $64,000 after purchasing an additional 1,153 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Palantir Technologies by 41.5% during the second quarter. TCI Wealth Advisors Inc. now owns 3,990 shares of the company’s stock valued at $36,000 after buying an additional 1,170 shares during the last quarter. Finally, City State Bank grew its holdings in Palantir Technologies by 28.6% during the 1st quarter. City State Bank now owns 5,400 shares of the company’s stock valued at $74,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 30.80% of the company’s stock.
Palantir Technologies Stock Performance
The firm has a market cap of $13.38 billion, a PE ratio of -24.57 and a beta of 2.89. The firm has a fifty day simple moving average of $7.73 and a two-hundred day simple moving average of $8.44.
Palantir Technologies (NYSE:PLTR – Get Rating) last posted its earnings results on Monday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $477.88 million during the quarter, compared to analysts’ expectations of $474.58 million. Palantir Technologies had a negative net margin of 30.64% and a negative return on equity of 8.86%. Equities analysts forecast that Palantir Technologies Inc. will post -0.17 EPS for the current fiscal year.
Palantir Technologies Company Profile
(Get Rating)
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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