Palantir Technologies (NYSE:PLTR) Shares Down 1.6%

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 1.6% on Tuesday . The company traded as low as $21.12 and last traded at $21.27. Approximately 9,639,796 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 61,393,461 shares. The stock had previously closed at $21.62.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLTR. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Mizuho upped their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Raymond James raised their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.65.

Palantir Technologies Price Performance

The stock has a market cap of $46.34 billion, a price-to-earnings ratio of 176.51, a P/E/G ratio of 4.90 and a beta of 2.76. The company’s fifty day moving average price is $22.51 and its 200-day moving average price is $20.73.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the sale, the director now owns 191,783 shares in the company, valued at approximately $4,777,314.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares in the company, valued at approximately $13,625,524.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 18,412,722 shares of company stock worth $414,573,750. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 11.1% in 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 stake in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares in 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 valued at $84,571,000 after acquiring an additional 4,011,100 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Palantir Technologies in the 3rd quarter worth about $55,719,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.