Palantir Technologies (NYSE:PLTR) Trading Down 1.3%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 1.3% on Tuesday . The stock traded as low as $22.48 and last traded at $22.54. 9,372,936 shares changed hands during trading, a decline of 85% from the average session volume of 61,666,246 shares. The stock had previously closed at $22.83.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLTR shares. Mizuho lifted 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. Royal Bank of Canada restated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. 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 report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Down 3.4 %

The stock has a 50 day moving average of $23.42 and a 200 day moving average of $20.11. The company has a market capitalization of $48.81 billion, a price-to-earnings ratio of 250.47, a price-to-earnings-growth ratio of 5.52 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results 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). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In related news, insider Heather A. Planishek sold 32,828 shares of Palantir Technologies stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the sale, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 in the last three months. Company insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Halpern Financial Inc. lifted its holdings in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after buying an additional 440 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of Palantir Technologies by 16.9% during the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC grew its stake in Palantir Technologies by 4.8% in the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares during the period. Fiduciary Alliance LLC lifted its position in Palantir Technologies by 1.0% during the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after buying an additional 618 shares during the period. Finally, West Paces Advisors Inc. increased its stake in shares of Palantir Technologies by 110.7% in 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 in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.