Brokerages Set Palantir Technologies Inc. (NYSE:PLTR) Target Price at $13.04

Palantir Technologies Inc. (NYSE:PLTR) has been assigned a consensus recommendation of “Reduce” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $13.25.

PLTR has been the topic of a number of analyst reports. Wolfe Research boosted their price target on Palantir Technologies from $6.00 to $7.50 and gave the stock an “underperform” rating in a research report on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $7.00 to $9.00 in a research note on Tuesday, August 8th. DA Davidson upped their price target on shares of Palantir Technologies from $8.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Mizuho upped their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $10.00 to $14.00 in a research note on Monday, June 5th.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $15.46 on Tuesday. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $20.24. The company’s fifty day moving average price is $16.16 and its 200-day moving average price is $12.77.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 7th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Palantir Technologies had a negative net margin of 2.35% and a negative return on equity of 4.37%. The firm had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $533.88 million. As a group, research analysts expect that Palantir Technologies will post 0.07 earnings per share for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $15.71, for a total transaction of $56,477.45. Following the transaction, the director now directly owns 61,479 shares of the company’s stock, valued at approximately $965,835.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Heather A. Planishek sold 5,534 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $14.44, for a total value of $79,910.96. Following the transaction, the insider now owns 812,006 shares in the company, valued at approximately $11,725,366.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,595 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.71, for a total transaction of $56,477.45. Following the completion of the transaction, the director now owns 61,479 shares in the company, valued at approximately $965,835.09. The disclosure for this sale can be found here. Insiders have sold 2,613,619 shares of company stock valued at $49,214,052 in the last ninety days. 13.96% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commerce Bank increased its holdings in Palantir Technologies by 7.8% in the 1st quarter. Commerce Bank now owns 96,261 shares of the company’s stock worth $813,000 after acquiring an additional 6,964 shares in the last quarter. abrdn plc raised its position in shares of Palantir Technologies by 90.3% during the 1st quarter. abrdn plc now owns 324,760 shares of the company’s stock valued at $2,744,000 after purchasing an additional 154,130 shares during the period. WBH Advisory Inc. bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $315,000. Franklin Resources Inc. raised its position in shares of Palantir Technologies by 17.6% during the 4th quarter. Franklin Resources Inc. now owns 68,985 shares of the company’s stock valued at $443,000 after purchasing an additional 10,343 shares during the period. Finally, Kovack Advisors Inc. raised its position in shares of Palantir Technologies by 107.2% during the 4th quarter. Kovack Advisors Inc. now owns 48,911 shares of the company’s stock valued at $314,000 after purchasing an additional 25,305 shares during the period. Hedge funds and other institutional investors own 34.21% of the company’s stock.

Palantir Technologies Company Profile

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.