Palantir Technologies (NYSE:PLTR) Stock Price Down 2.2%

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 2.2% on Monday . The company traded as low as $21.22 and last traded at $21.29. Approximately 14,131,963 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 61,705,578 shares. The stock had previously closed at $21.76.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research reports. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Finally, Citigroup raised their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Stock Performance

The company has a market cap of $47.46 billion, a PE ratio of 176.97, a PEG ratio of 4.94 and a beta of 2.76. The company’s 50-day simple moving average is $22.59 and its 200 day simple moving average is $20.72.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total value of $1,178,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $17,743,166.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total value of $1,178,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $17,743,166.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the sale, the director now directly owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The disclosure for this sale can be found here. Insiders sold 18,449,417 shares of company stock valued at $415,467,436 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Palantir Technologies by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,363 shares of the company’s stock valued at $694,000 after acquiring an additional 11,219 shares during the last quarter. Yousif Capital Management LLC lifted its position in Palantir Technologies by 4.3% in the third quarter. Yousif Capital Management LLC now owns 18,227 shares of the company’s stock valued at $292,000 after acquiring an additional 750 shares during the last quarter. Allworth Financial LP lifted its position in Palantir Technologies by 21.4% in the third quarter. Allworth Financial LP now owns 7,971 shares of the company’s stock valued at $128,000 after acquiring an additional 1,405 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Palantir Technologies by 3.3% in the third quarter. Teacher Retirement System of Texas now owns 140,431 shares of the company’s stock valued at $2,247,000 after acquiring an additional 4,487 shares during the last quarter. Finally, M&T Bank Corp lifted its position in Palantir Technologies by 4.6% in the third quarter. M&T Bank Corp now owns 76,825 shares of the company’s stock valued at $1,229,000 after acquiring an additional 3,413 shares during the last quarter. 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.