Palantir Technologies (NYSE:PLTR) Trading Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR) shares dropped 0.1% on Wednesday . The company traded as low as $21.27 and last traded at $21.88. Approximately 33,869,201 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 36,256,228 shares. The stock had previously closed at $21.90.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLTR. Raymond James raised their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Mizuho raised 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. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Performance

The company has a market cap of $46.73 billion, a PE ratio of 234.69, a PEG ratio of 5.23 and a beta of 2.78. The company’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $19.82.

Palantir Technologies (NYSE:PLTR) last released 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). The firm had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction 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 sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the sale, the director now directly owns 191,783 shares of the company’s stock, valued at $4,777,314.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction 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 sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Palantir Technologies by 22.4% in the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after purchasing an additional 28,563,749 shares during the period. Norges Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $39,395,000. Morgan Stanley increased its stake in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its stake in Palantir Technologies by 314.7% in the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after purchasing an additional 4,011,100 shares during the period. Finally, Millennium Management LLC increased its stake in Palantir Technologies by 194.8% in the second quarter. Millennium Management LLC now owns 1,895,920 shares of the company’s stock valued at $17,196,000 after purchasing an additional 3,895,920 shares during the period. 45.65% of the stock is owned by hedge funds and other 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.