Palantir Technologies (NYSE:PLTR) Trading Down 1.8%

Shares of Palantir Technologies Inc. (NYSE:PLTR) were down 1.8% during trading on Wednesday . The stock traded as low as $24.30 and last traded at $24.45. Approximately 18,793,323 shares were traded during trading, a decline of 74% from the average daily volume of 71,522,453 shares. The stock had previously closed at $24.89.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Raymond James lifted their price objective 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. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Price Performance

The stock has a market capitalization of $50.91 billion, a P/E ratio of 255.70, a PEG ratio of 6.01 and a beta of 2.82. The stock’s fifty day moving average price is $22.54 and its 200 day moving average price is $19.06.

Palantir Technologies (NYSE:PLTR) last issued 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 return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the completion of the sale, the director now directly owns 175,830 shares of the company’s stock, valued at $4,163,654.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Shyam Sankar sold 29,168 shares of the company’s 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 completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the completion of the transaction, the director now owns 175,830 shares in the company, valued at approximately $4,163,654.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,455,273 shares of company stock valued at $184,293,942. 13.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Qsemble Capital Management LP acquired a new stake in Palantir Technologies in the third quarter worth about $1,178,000. Trexquant Investment LP purchased a new position in shares of Palantir Technologies in the third quarter worth $4,446,000. Van Cleef Asset Management Inc lifted its stake in shares of Palantir Technologies by 82.9% during the second quarter. Van Cleef Asset Management Inc now owns 690,267 shares of the company’s stock worth $10,582,000 after buying an additional 312,767 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Palantir Technologies by 3.9% during the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after buying an additional 25,787 shares during the last quarter. Finally, Korea Investment CORP raised its stake in Palantir Technologies by 148.4% in the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after acquiring an additional 115,876 shares during the last quarter. 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.