Palantir Technologies’ (PLTR) “Underperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their underperform rating on shares of Palantir Technologies (NASDAQ:PLTR) in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $40.00 price objective on the stock.

PLTR has been the topic of several other research reports. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $74.71.

Palantir Technologies Stock Down 1.9 %

NASDAQ PLTR opened at $116.20 on Tuesday. The stock has a market cap of $272.53 billion, a PE ratio of 611.61, a P/E/G ratio of 10.84 and a beta of 2.74. The business has a 50 day moving average price of $90.44 and a two-hundred day moving average price of $78.89. Palantir Technologies has a fifty-two week low of $20.50 and a fifty-two week high of $125.41.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 in the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC lifted its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.