UBS Group Initiates Coverage on Palantir Technologies (NYSE:PLTR)

Equities research analysts at UBS Group assumed coverage on shares of Palantir Technologies (NYSE:PLTR) in a note issued to investors on Thursday,Benzinga reports. The firm set a “neutral” rating and a $80.00 price target on the stock. UBS Group’s price target points to a potential upside of 11.87% from the company’s previous close.

Several other equities analysts also recently commented on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group downgraded 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. Wedbush lifted their price objective 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. Finally, Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Six equities 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 stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Trading Down 3.9 %

Palantir Technologies stock opened at $71.51 on Thursday. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $80.91. The firm has a market capitalization of $162.90 billion, a price-to-earnings ratio of 357.57, a P/E/G ratio of 10.18 and a beta of 2.87. The firm has a 50 day moving average of $57.71 and a 200 day moving average of $39.61.

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

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the sale, the director now owns 145,625 shares in the company, valued at approximately $5,558,506.25. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Thiel sold 3,989,204 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $36.94, for a total transaction of $147,361,195.76. Following the transaction, the director now owns 42,683,569 shares in the company, valued at $1,576,731,038.86. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,612,366 shares of company stock valued at $1,867,342,292 over the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC increased its stake in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the period. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.