Palantir Technologies (NYSE:PLTR) Shares Down 4%

Palantir Technologies Inc. (NYSE:PLTR) shares traded down 4% during trading on Thursday . The company traded as low as $23.42 and last traded at $23.54. 22,986,204 shares traded hands during trading, a decline of 68% from the average session volume of 71,018,977 shares. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Thursday. Raymond James raised their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Bank of America lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Down 6.1 %

The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of 261.58, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82. The firm’s 50 day moving average price is $22.40 and its two-hundred day moving average price is $19.03.

Palantir Technologies (NYSE:PLTR) last announced its quarterly 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). The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares in the company, valued at approximately $3,234,614.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the transaction, the director now directly owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,455,273 shares of company stock valued at $184,293,942. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Qsemble Capital Management LP purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $1,178,000. Trexquant Investment LP bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $4,446,000. Van Cleef Asset Management Inc increased its position in Palantir Technologies by 82.9% in the second quarter. Van Cleef Asset Management Inc now owns 690,267 shares of the company’s stock worth $10,582,000 after purchasing an additional 312,767 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Palantir Technologies by 3.9% during the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after buying an additional 25,787 shares during the period. Finally, Korea Investment CORP boosted its stake in Palantir Technologies by 148.4% during the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after buying an additional 115,876 shares during the period. 45.65% of the stock is currently 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.