Palantir Technologies (NYSE:PLTR) Shares Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR) shares dropped 0.1% during trading on Monday . The company traded as low as $20.36 and last traded at $20.44. Approximately 11,931,392 shares traded hands during trading, a decline of 81% from the average daily volume of 63,996,102 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLTR shares. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Thursday, March 28th. Bank of America lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. HSBC lowered shares of 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. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Up 3.2 %

The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 240.42, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78. The stock’s 50 day moving average is $23.64 and its 200 day moving average is $19.99.

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). The firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. Analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares during the period. Morgan Stanley boosted its holdings in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in shares of Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after buying an additional 4,011,100 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $55,719,000. Finally, International Assets Investment Management LLC boosted its stake in Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after acquiring an additional 2,742,071 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.