Palantir Technologies (NYSE:PLTR) Trading Down 0.6%

Shares of Palantir Technologies Inc. (NYSE:PLTR) were down 0.6% during trading on Wednesday . The stock traded as low as $21.80 and last traded at $21.84. Approximately 8,493,268 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 61,291,879 shares. The stock had previously closed at $21.97.

Analysts Set New Price Targets

Several equities analysts have recently commented on PLTR shares. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Raymond James upped their price objective 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. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Three investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 250.58, a price-to-earnings-growth ratio of 5.42 and a beta of 2.76. The business’s 50 day simple moving average is $23.38 and its 200 day simple moving average is $20.16.

Palantir Technologies (NYSE:PLTR) last issued 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). 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%. As a group, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction dated 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 sale, the director now owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated 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 transaction, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of Palantir Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Truvestments Capital LLC increased its position in Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. First United Bank & Trust acquired a new position in Palantir Technologies during the fourth quarter worth approximately $26,000. Pacifica Partners Inc. acquired a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. West Paces Advisors Inc. increased its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds 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.