Palantir Technologies (NYSE:PLTR) Stock Price Down 6.1%

Palantir Technologies Inc. (NYSE:PLTR)’s share price fell 6.1% on Friday . The stock traded as low as $22.94 and last traded at $23.01. 70,008,165 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 62,928,808 shares. The stock had previously closed at $24.51.

Analyst Ratings Changes

PLTR has been the subject of several research reports. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Thursday. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, Raymond James boosted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The business has a 50 day simple moving average of $22.54 and a 200 day simple moving average of $19.06. The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of 255.70, a PEG ratio of 6.01 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 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 for the quarter, compared to analysts’ expectations of $603.48 million. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the sale, the director now directly owns 200,783 shares in the company, valued at $3,234,614.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the sale, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total value of $64,440.00. Following the completion of the sale, the director now owns 200,783 shares in the company, valued at $3,234,614.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,455,273 shares of company stock worth $184,293,942. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. increased its position in shares of Palantir Technologies by 5.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 104,125 shares of the company’s stock worth $1,788,000 after purchasing an additional 5,197 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Palantir Technologies by 385.8% during the fourth quarter. Nomura Holdings Inc. now owns 321,252 shares of the company’s stock worth $5,516,000 after purchasing an additional 255,120 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $678,000. PNC Financial Services Group Inc. increased its position in shares of Palantir Technologies by 11.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after purchasing an additional 5,759 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Palantir Technologies by 24.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 375,377 shares of the company’s stock worth $6,445,000 after purchasing an additional 73,762 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.