Palantir Technologies (NASDAQ:PLTR) Coverage Initiated at UBS Group

Investment analysts at UBS Group assumed coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $80.00 price target on the stock. UBS Group’s target price indicates a potential downside of 0.68% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday. Wedbush upped their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $41.00.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $80.55 on Thursday. The business has a 50 day moving average of $59.06 and a 200-day moving average of $40.26. Palantir Technologies has a 1 year low of $15.66 and a 1 year high of $80.91. The company has a market capitalization of $183.49 billion, a P/E ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts anticipate that Palantir Technologies will post 0.21 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the transaction, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the completion of the transaction, the director now directly owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. This represents a 7.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,612,366 shares of company stock worth $1,867,342,292. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the second quarter valued at $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.