Palantir Technologies (NYSE:PLTR) Trading Down 0.9%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 0.9% during mid-day trading on Thursday . The company traded as low as $20.94 and last traded at $21.37. 22,477,175 shares were traded during mid-day trading, a decline of 64% from the average session volume of 63,194,531 shares. The stock had previously closed at $21.56.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James raised their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday. Finally, Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Trading Down 1.9 %

The stock has a market capitalization of $46.78 billion, a PE ratio of 237.47, a P/E/G ratio of 5.72 and a beta of 2.76. The stock’s fifty day simple moving average is $23.28 and its 200-day simple moving average is $20.36.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results 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). The firm had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now 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 7,206,273 shares of company stock worth $178,543,602 in the last 90 days. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Brown Advisory Inc. boosted its position in shares of Palantir Technologies by 9.9% in the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock valued at $231,000 after acquiring an additional 1,300 shares during the period. Mackenzie Financial Corp raised its position in shares of Palantir Technologies by 26.0% in the third quarter. Mackenzie Financial Corp now owns 125,145 shares of the company’s stock worth $1,865,000 after buying an additional 25,852 shares in the last quarter. Strs Ohio bought a new stake in Palantir Technologies during the third quarter valued at $805,000. IFM Investors Pty Ltd grew its position in Palantir Technologies by 6.1% during the third quarter. IFM Investors Pty Ltd now owns 351,427 shares of the company’s stock worth $5,623,000 after buying an additional 20,176 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Palantir Technologies by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,363 shares of the company’s stock worth $694,000 after acquiring an additional 11,219 shares during the last quarter. 45.65% of the stock is currently 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.