Palantir Technologies (NYSE:PLTR) Shares Down 1.3%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $22.48 and last traded at $22.54. 9,372,936 shares changed hands during trading, a decline of 85% from the average session volume of 61,666,246 shares. The stock had previously closed at $22.83.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James increased their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Bank of America increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Finally, HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.35.

Palantir Technologies Price Performance

The stock has a market cap of $48.95 billion, a P/E ratio of 245.81, a PEG ratio of 5.39 and a beta of 2.76. The business’s 50 day simple moving average is $23.38 and its 200 day simple moving average is $20.16.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In related news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,456,273 shares of company stock worth $184,343,202. Insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently bought and sold shares of the business. West Paces Advisors Inc. grew its holdings in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Bogart Wealth LLC grew its holdings in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after buying an additional 1,065 shares during the period. Halpern Financial Inc. grew its holdings in shares of 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. Finally, Pacifica Partners Inc. acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.