Palantir Technologies (NYSE:PLTR) Stock Price Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 0.1% during trading on Monday . The company traded as low as $20.36 and last traded at $20.44. 11,931,392 shares were traded during mid-day trading, a decline of 81% from the average session volume of 63,996,102 shares. The stock had previously closed at $20.47.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Mizuho upped their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Wednesday, February 14th. Wedbush restated an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Up 3.2 %

The company has a market capitalization of $47.87 billion, a PE ratio of 240.42, a PEG ratio of 5.14 and a beta of 2.78. The firm’s 50-day simple moving average is $23.64 and its 200-day simple moving average is $19.99.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 EPS 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 business had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock worth $184,343,202 in the last three months. 13.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Morgan Stanley raised its position in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the period. Northern Trust Corp increased its stake in shares of Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after purchasing an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC raised its holdings in Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.