Palantir Technologies (NYSE:PLTR) Stock Price Down 0.5%

Palantir Technologies Inc. (NYSE:PLTR)’s share price fell 0.5% during trading on Wednesday . The stock traded as low as $21.06 and last traded at $21.29. 28,514,582 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 63,182,445 shares. The stock had previously closed at $21.40.

Analysts Set New Price Targets

A number of brokerages recently commented on PLTR. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Bank of America lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Raymond James upped their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Five 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.com, the company currently has an average rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Stock Performance

The business’s 50 day moving average price is $23.34 and its 200-day moving average price is $20.35. The company has a market cap of $47.71 billion, a price-to-earnings ratio of 237.92, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction 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 sale, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $4,355,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold 7,356,273 shares of company stock valued at $182,143,602 in the last three months. 13.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of PLTR. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. Bogart Wealth LLC raised its position in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the period. Halpern Financial Inc. grew its holdings in Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares during the period. Finally, Pacifica Partners Inc. bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.