Palantir Technologies (NYSE:PLTR) Trading Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 0.1% on Wednesday . The stock traded as low as $21.27 and last traded at $21.88. 33,869,201 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 36,256,228 shares. The stock had previously closed at $21.90.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wedbush reiterated 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Bank of America lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Performance

The company’s 50 day moving average price is $23.84 and its 200-day moving average price is $19.82. The company has a market cap of $46.73 billion, a price-to-earnings ratio of 234.69, a PEG ratio of 5.23 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 (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 8,521 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the sale, the insider now directly owns 703,485 shares in the company, valued at $16,370,095.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock valued at $184,343,202 in the last quarter. Insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Halpern Financial Inc. lifted its stake in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after acquiring an additional 463 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares during the last quarter. West Paces Advisors Inc. lifted its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the last quarter. Finally, AXS Investments LLC raised its position in shares of Palantir Technologies by 1.5% in the fourth quarter. AXS Investments LLC now owns 42,264 shares of the company’s stock valued at $726,000 after purchasing an additional 626 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.