Palantir Technologies (NYSE:PLTR) Shares Down 4%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 4% during mid-day trading on Thursday . The stock traded as low as $23.42 and last traded at $23.54. 22,986,204 shares traded hands during trading, a decline of 68% from the average session volume of 71,018,977 shares. The stock had previously closed at $24.51.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Raymond James upped their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Mizuho upped their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Stock Performance

The business has a fifty day simple moving average of $22.40 and a 200 day simple moving average of $19.03. The stock has a market cap of $50.91 billion, a price-to-earnings ratio of 261.58, a PEG ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last issued 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). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the transaction, the director now owns 200,783 shares in the company, valued at approximately $3,234,614.13. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at approximately $4,355,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the sale, the director now directly owns 200,783 shares in the company, valued at approximately $3,234,614.13. The disclosure for this sale can be found here. Insiders sold a total of 7,455,273 shares of company stock worth $184,293,942 in the last 90 days. 13.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Qsemble Capital Management LP acquired a new stake in Palantir Technologies during the third quarter valued at $1,178,000. Trexquant Investment LP acquired a new stake in shares of Palantir Technologies in the third quarter worth about $4,446,000. Van Cleef Asset Management Inc lifted its position in shares of Palantir Technologies by 82.9% in the second quarter. Van Cleef Asset Management Inc now owns 690,267 shares of the company’s stock worth $10,582,000 after buying an additional 312,767 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after buying an additional 25,787 shares during the last quarter. Finally, Korea Investment CORP lifted its position in shares of Palantir Technologies by 148.4% in the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after buying an additional 115,876 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.