Palantir Technologies (NYSE:PLTR) Shares Down 1.3%

Palantir Technologies Inc. (NYSE:PLTR) was down 1.3% during mid-day trading on Tuesday . The stock traded as low as $22.48 and last traded at $22.54. Approximately 9,372,936 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 61,666,246 shares. The stock had previously closed at $22.83.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Bank of America lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Wedbush restated an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

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

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the transaction, the director now directly owns 175,830 shares in the company, valued at $4,163,654.40. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock worth $184,343,202 over the last quarter. 13.96% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

A number of large investors have recently made changes to their positions in PLTR. Joel Isaacson & Co. LLC raised its stake in shares of Palantir Technologies by 3.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 25,956 shares of the company’s stock valued at $597,000 after acquiring an additional 925 shares during the period. Perigon Wealth Management LLC raised its position in Palantir Technologies by 9.2% in the first quarter. Perigon Wealth Management LLC now owns 138,897 shares of the company’s stock valued at $3,196,000 after purchasing an additional 11,754 shares during the period. Mayflower Financial Advisors LLC acquired a new position in shares of Palantir Technologies during the first quarter worth about $263,000. Commonwealth Equity Services LLC boosted its position in shares of Palantir Technologies by 57.7% in the first quarter. Commonwealth Equity Services LLC now owns 1,183,011 shares of the company’s stock worth $27,221,000 after buying an additional 433,030 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Palantir Technologies by 307.3% in the first quarter. Principal Financial Group Inc. now owns 805,428 shares of the company’s stock valued at $18,533,000 after buying an additional 607,661 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.