Palantir Technologies (NYSE:PLTR) Stock Price Down 0.7%

Palantir Technologies Inc. (NYSE:PLTR) dropped 0.7% during trading on Friday . The company traded as low as $20.79 and last traded at $20.98. Approximately 11,441,608 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 64,296,809 shares. The stock had previously closed at $21.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Raymond James increased their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued 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 $18.35.

Palantir Technologies Stock Performance

The business has a fifty day simple moving average of $23.84 and a 200 day simple moving average of $19.82. The stock has a market cap of $45.76 billion, a price-to-earnings ratio of 233.14, a PEG ratio of 5.23 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Halpern Financial Inc. increased its stake in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after buying an additional 440 shares during the period. Pacifica Partners Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $27,000. Finally, First United Bank & Trust purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $26,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.