Palantir Technologies (NASDAQ:PLTR) Trading Down 5.1% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 5.1% during mid-day trading on Monday . The company traded as low as $72.67 and last traded at $74.94. Approximately 33,901,384 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 68,133,906 shares. The stock had previously closed at $78.98.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PLTR shares. Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson lifted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley restated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Up 6.3 %

The firm’s 50 day simple moving average is $72.59 and its 200 day simple moving average is $49.89. The company has a market cap of $182.77 billion, a price-to-earnings ratio of 401.17, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the transaction, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock valued at $1,288,448,522 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. R Squared Ltd acquired a new position in Palantir Technologies in the fourth quarter worth approximately $33,000. Elevation Wealth Partners LLC lifted its position in shares of Palantir Technologies by 64.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 511 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Palantir Technologies by 181.3% during the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock worth $38,000 after acquiring an additional 330 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.