Palantir Technologies (NYSE:PLTR) Shares Down 1.7%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 1.7% on Tuesday . The company traded as low as $27.47 and last traded at $28.18. 27,218,559 shares changed hands during trading, a decline of 51% from the average session volume of 55,517,953 shares. The stock had previously closed at $28.67.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLTR. Royal Bank of Canada raised their price target on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, May 7th. Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $21.32.

Palantir Technologies Stock Performance

The stock has a 50 day moving average of $23.67 and a 200-day moving average of $22.27. The company has a market cap of $64.00 billion, a PE ratio of 234.85, a price-to-earnings-growth ratio of 6.48 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Equities research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares in the company, valued at $834,876. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,375,179 shares of company stock worth $240,025,973. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Large investors have recently bought and sold shares of the business. Pursue Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,741,000. Vanguard Group Inc. grew 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 buying an additional 6,466,596 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after buying an additional 116,220 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after buying an additional 102,479 shares during the period. Finally, Udine Wealth Management Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $1,612,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.