Palantir Technologies (NASDAQ:PLTR) Now Covered by UBS Group

UBS Group started coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a neutral rating and a $80.00 price objective on the stock.

PLTR has been the topic of a number of other research reports. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Mizuho lifted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Finally, Robert W. Baird assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.06.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $1.13 during mid-day trading on Thursday, hitting $75.34. The stock had a trading volume of 27,484,776 shares, compared to its average volume of 60,522,141. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $80.91. The stock has a market cap of $171.63 billion, a price-to-earnings ratio of 376.72, a PEG ratio of 10.18 and a beta of 2.87. The company’s 50 day simple moving average is $58.32 and its 200 day simple moving average is $39.85.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm earned $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction dated 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 sale, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,612,366 shares of company stock worth $1,867,342,292. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp lifted its stake in Palantir Technologies by 4.1% in the 2nd quarter. Fifth Third Bancorp now owns 71,491 shares of the company’s stock worth $1,811,000 after purchasing an additional 2,805 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Palantir Technologies in the 2nd quarter worth $209,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Palantir Technologies in the 2nd quarter worth $277,000. Premier Path Wealth Partners LLC raised its position in Palantir Technologies by 8.3% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 14,948 shares of the company’s stock worth $379,000 after purchasing an additional 1,148 shares during the period. Finally, Everhart Financial Group Inc. raised its position in Palantir Technologies by 6.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 16,073 shares of the company’s stock worth $407,000 after purchasing an additional 912 shares during the period. 45.65% of the stock is owned by institutional investors.

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.