William Blair Reaffirms Underperform Rating for Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “underperform” rating reissued by research analysts at William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

Several other analysts have also recently weighed in on PLTR. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective on the stock. Bank of America lifted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Mizuho increased their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Up 3.8 %

NASDAQ:PLTR opened at $74.21 on Wednesday. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $80.91. The company has a fifty day simple moving average of $58.32 and a two-hundred day simple moving average of $39.85. The company has a market cap of $169.05 billion, a price-to-earnings ratio of 371.07, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. On average, analysts expect that Palantir Technologies will post 0.21 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following 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 trade represents a 7.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

About Palantir Technologies

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.