Palantir Technologies (NYSE:PLTR) Trading Down 0.6%

Palantir Technologies Inc. (NYSE:PLTR) dropped 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 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

PLTR has been the subject of several recent research reports. Raymond James boosted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Mizuho upped their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Bank of America upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Three research 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Trading Up 4.0 %

The firm has a market cap of $51.89 billion, a PE ratio of 250.58, a PEG ratio of 5.42 and a beta of 2.76. The business has a fifty day moving average of $23.38 and a 200-day moving average of $20.16.

Palantir Technologies (NYSE:PLTR) last announced 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). The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock worth $184,343,202 in the last ninety days. 13.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Halpern Financial Inc. lifted its holdings in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after buying an additional 440 shares during the period. Harbor Investment Advisory LLC lifted 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 valued at $74,000 after purchasing an additional 463 shares during the period. Principle Wealth Partners LLC lifted its stake in shares of Palantir Technologies by 4.8% in the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock valued at $241,000 after purchasing an additional 481 shares during the period. GSB Wealth Management LLC lifted its stake in shares of Palantir Technologies by 4.6% in the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock valued at $310,000 after purchasing an additional 595 shares during the period. Finally, Fiduciary Alliance LLC raised its stake in Palantir Technologies by 1.0% during the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after buying an additional 618 shares during the last quarter. Hedge funds and other institutional investors 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.