Palantir Technologies (NYSE:PLTR) Trading Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 0.1% during mid-day trading on Wednesday . The stock traded as low as $21.27 and last traded at $21.88. 33,869,201 shares changed hands during trading, a decline of 7% from the average session volume of 36,256,228 shares. The stock had previously closed at $21.90.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Wednesday, February 14th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Thursday, March 28th. Finally, Mizuho raised their price target on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

The business’s 50 day moving average price is $23.96 and its 200-day moving average price is $19.80. The company has a market cap of $48.41 billion, a P/E ratio of 243.11, a PEG ratio of 5.37 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity

In related news, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the sale, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the sale, the insider now directly owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,456,273 shares of company stock worth $184,343,202. 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 modified their holdings of the stock. Halpern Financial Inc. raised its position in shares of Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Palantir Technologies by 16.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after buying an additional 463 shares during the last quarter. Fiduciary Alliance LLC boosted its stake in shares of Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after buying an additional 618 shares during the last quarter. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the last quarter. Finally, AXS Investments LLC boosted its stake in shares of Palantir Technologies by 1.5% during the 4th quarter. AXS Investments LLC now owns 42,264 shares of the company’s stock worth $726,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds 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.