Jefferies initiates coverage on Palantir Technologies

(Ticker Report) – Analysts at Jefferies Financial Group started coverage on shares of Palantir Technologies (NYSE:PLTR) in a research report issued on Monday, Analyst Ratings Network reports. The firm set a “buy” rating and a $13.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 18.72% from the stock’s previous close.

Shares of PLTR stock opened at $10.95 on Monday. Palantir Technologies has a 12 month low of $8.90 and a 12 month high of $11.42.

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.71, for a total value of $19,420,000.00. Following the sale, the insider now owns 3,402,647 shares in the company, valued at approximately $33,039,702.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shyam Sankar sold 1,405,715 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $10.12, for a total value of $14,225,835.80. Following the completion of the sale, the chief operating officer now directly owns 5,666,667 shares of the company’s stock, valued at approximately $57,346,670.04. The disclosure for this sale can be found here. Insiders have sold a total of 17,385,740 shares of company stock worth $169,948,219 over the last three months.

A number of hedge funds have recently made changes to their positions in the stock. San Francisco Sentry Investment Group CA bought a new position in Palantir Technologies during the 3rd quarter worth approximately $57,000. Manchester Financial Inc. acquired a new stake in shares of Palantir Technologies during the third quarter worth $878,000. D Orazio & Associates Inc. bought a new position in Palantir Technologies during the third quarter worth $36,000. Trellus Management Company LLC acquired a new position in Palantir Technologies in the third quarter valued at $181,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Palantir Technologies in the third quarter valued at $505,000.
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. It offers Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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