Palantir Technologies (NYSE:PLTR) Trading Down 3.6%

Palantir Technologies Inc. (NYSE:PLTR) fell 3.6% on Monday . The stock traded as low as $27.46 and last traded at $27.53. 428,382 shares were traded during trading, a decline of 99% from the average session volume of 62,603,512 shares. The stock had previously closed at $28.56.

Several research firms have weighed in on PLTR. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 12th. Zacks Investment Research lowered Palantir Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 19th. Morgan Stanley raised their price objective on Palantir Technologies from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Friday, August 13th. Wolfe Research raised their price objective on Palantir Technologies from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, August 13th. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their price objective on Palantir Technologies from $20.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, August 13th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.11.

The stock has a market capitalization of $53.79 billion and a P/E ratio of -24.62. The stock has a 50 day moving average of $24.67 and a 200-day moving average of $23.77.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Thursday, August 12th. The company reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The business had revenue of $375.64 million during the quarter, compared to analyst estimates of $360.60 million. Palantir Technologies had a positive return on equity of 20.55% and a negative net margin of 95.14%.

In other news, Director Alexander D. Moore sold 11,000 shares of Palantir Technologies stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $25.10, for a total value of $276,100.00. Following the transaction, the director now directly owns 2,226,826 shares in the company, valued at approximately $55,893,332.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 638,629 shares of Palantir Technologies stock in a transaction on Thursday, July 8th. The shares were sold at an average price of $22.96, for a total value of $14,662,921.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,893,769 shares of company stock valued at $139,868,655. 17.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PLTR. Victory Capital Management Inc. grew its stake in Palantir Technologies by 168.6% during the 1st quarter. Victory Capital Management Inc. now owns 117,582 shares of the company’s stock valued at $2,738,000 after purchasing an additional 73,807 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Palantir Technologies by 414.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 81,229 shares of the company’s stock valued at $1,892,000 after purchasing an additional 65,453 shares during the last quarter. The PNC Financial Services Group Inc. grew its stake in Palantir Technologies by 1,463.4% during the 1st quarter. The PNC Financial Services Group Inc. now owns 100,966 shares of the company’s stock valued at $2,351,000 after purchasing an additional 94,508 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $101,000. Finally, Mariner LLC grew its stake in Palantir Technologies by 86.6% during the 1st quarter. Mariner LLC now owns 30,903 shares of the company’s stock valued at $720,000 after purchasing an additional 14,344 shares during the last quarter. Hedge funds and other institutional investors own 22.13% of the company’s stock.

Palantir Technologies Company Profile (NYSE:PLTR)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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