Palantir Technologies (NYSE:PLTR) Trading Down 14.4%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 14.4% on Tuesday . The company traded as low as $21.35 and last traded at $21.59. 86,694,361 shares changed hands during trading, an increase of 38% from the average session volume of 62,683,484 shares. The stock had previously closed at $25.21.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Mizuho increased 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. DA Davidson upped their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Five 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Trading Down 14.5 %

The company has a market cap of $47.71 billion, a P/E ratio of 239.92, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. The company’s fifty day moving average is $23.36 and its 200 day moving average is $20.25.

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 analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity

In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of the 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 owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at $4,355,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Halpern Financial Inc. raised 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 purchasing an additional 440 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Palantir Technologies by 16.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after acquiring an additional 463 shares in the last quarter. Principle Wealth Partners LLC lifted its position in Palantir Technologies by 4.8% during the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock valued at $241,000 after acquiring an additional 481 shares during the period. GSB Wealth Management LLC boosted its stake in Palantir Technologies by 4.6% during the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after acquiring an additional 595 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its holdings in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 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.