Palantir Technologies (NYSE:PLTR) Trading Down 1.6%

Palantir Technologies Inc. (NYSE:PLTR) traded down 1.6% during mid-day trading on Thursday . The company traded as low as $20.66 and last traded at $21.24. 10,206,765 shares changed hands during trading, a decline of 84% from the average session volume of 62,877,492 shares. The stock had previously closed at $21.59.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Raymond James lifted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Up 3.7 %

The business’s 50-day simple moving average is $23.45 and its 200-day simple moving average is $20.05. The stock has a market cap of $49.82 billion, a PE ratio of 250.19, a PEG ratio of 5.32 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (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 firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $4,355,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $4,355,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares during the period. Morgan Stanley lifted its holdings in shares of Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its position in shares of Palantir Technologies by 314.7% in the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after purchasing an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $55,719,000. Finally, International Assets Investment Management LLC increased its position in Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after buying an additional 2,742,071 shares in 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.