Palantir Technologies (NYSE:PLTR) Trading Down 0.6%

Palantir Technologies Inc. (NYSE:PLTR) shares fell 0.6% during mid-day trading on Wednesday . The company traded as low as $21.80 and last traded at $21.84. 8,493,268 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 61,291,879 shares. The stock had previously closed at $21.97.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Bank of America increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wedbush restated an “outperform” rating and set a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Finally, Raymond James increased their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Performance

The business has a 50-day simple moving average of $23.39 and a 200 day simple moving average of $20.14. The firm has a market cap of $48.64 billion, a P/E ratio of 242.69, a price-to-earnings-growth ratio of 5.60 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. On average, research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balboa Wealth Partners purchased a new stake in Palantir Technologies during the 3rd quarter valued at $235,000. Cambridge Investment Research Advisors Inc. boosted its stake in Palantir Technologies by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,225,872 shares of the company’s stock valued at $19,614,000 after purchasing an additional 60,240 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at $734,000. Robeco Institutional Asset Management B.V. boosted its stake in Palantir Technologies by 488.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,052,427 shares of the company’s stock valued at $16,839,000 after purchasing an additional 873,730 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Palantir Technologies by 1.4% during the 3rd quarter. Xponance Inc. now owns 267,590 shares of the company’s stock valued at $4,281,000 after purchasing an additional 3,651 shares during the last quarter. 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.