Palantir Technologies (NYSE:PLTR) Trading Down 1.8%

Palantir Technologies Inc. (NYSE:PLTR) shares were down 1.8% during trading on Wednesday . The stock traded as low as $24.30 and last traded at $24.45. Approximately 18,793,323 shares traded hands during trading, a decline of 74% from the average daily volume of 71,522,453 shares. The stock had previously closed at $24.89.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research report on Thursday. Royal Bank of Canada restated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price target for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Trading Down 6.1 %

The company’s 50 day simple moving average is $22.54 and its 200 day simple moving average is $19.06. The stock has a market capitalization of $50.91 billion, a PE ratio of 255.70, a PEG ratio of 6.01 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business 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 predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the sale, the director now owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. Insiders have sold a total of 7,455,273 shares of company stock worth $184,293,942 in the last three months. Company insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the stock. AlphaCrest Capital Management LLC acquired a new stake in Palantir Technologies in the first quarter valued at approximately $206,000. D.A. Davidson & CO. increased its stake in Palantir Technologies by 18.6% during the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after buying an additional 2,286 shares during the period. MetLife Investment Management LLC acquired a new position in Palantir Technologies in the 1st quarter worth $1,475,000. Cibc World Market Inc. boosted its position in Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after buying an additional 62,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after acquiring an additional 482,171 shares in the last quarter. 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.