Palantir Technologies (NYSE:PLTR) Trading Down 1.6%

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 1.6% during trading on Thursday . The stock traded as low as $20.66 and last traded at $21.24. Approximately 10,206,765 shares were traded 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.

Analyst Ratings Changes

PLTR has been the topic of several research reports. Mizuho upped their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Raymond James upped their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Up 3.7 %

The firm has a 50 day simple moving average of $23.45 and a two-hundred day simple moving average of $20.05. The stock has a market capitalization of $49.82 billion, a P/E ratio of 250.19, a PEG ratio of 5.32 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. On average, research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction on Friday, March 1st. The stock was 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 in the company, valued at $4,777,314.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares of the company’s stock, valued at $3,992,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,456,273 shares of company stock worth $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC increased its holdings in Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares during the period. First United Bank & Trust acquired a new stake in Palantir Technologies during the 4th quarter worth about $26,000. Pacifica Partners Inc. acquired a new stake in Palantir Technologies during the 4th quarter worth about $27,000. West Paces Advisors Inc. grew its holdings in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.