Palantir Technologies (NYSE:PLTR) Trading Down 1.6%

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 1.6% on Thursday . The stock traded as low as $20.66 and last traded at $21.24. Approximately 10,206,765 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 62,877,492 shares. The stock had previously closed at $21.59.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLTR. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Mizuho lifted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Raymond James increased their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Trading Up 0.6 %

The business’s fifty day simple moving average is $23.57 and its 200-day simple moving average is $20.00. The firm has a market cap of $48.04 billion, a P/E ratio of 241.25, a PEG ratio of 5.31 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, February 5th. The company reported $0.03 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 business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. As a group, research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at $4,355,040. The sale was disclosed in a document filed with the SEC, which can be accessed 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 value of $729,200.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last three months. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC boosted its holdings in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the period. First United Bank & Trust acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $26,000. Pacifica Partners Inc. acquired a new position in Palantir Technologies during the 4th quarter worth $27,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of 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. 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.