Palantir Technologies (NYSE:PLTR) Shares Down 0.5%

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLTR shares. DA Davidson raised their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday. HSBC lifted their price target on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada increased their price target on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday. Five research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

The company has a fifty day simple moving average of $23.20 and a two-hundred day simple moving average of $20.36. The firm has a market capitalization of $47.06 billion, a PE ratio of 234.91, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (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 business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies 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 transaction, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of 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 document filed with the SEC, which is available at this link. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders have sold a total of 7,201,273 shares of company stock valued at $178,418,102 over the last ninety days. 13.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,741,000. Qsemble Capital Management LP purchased a new stake in Palantir Technologies in the 3rd quarter worth approximately $1,178,000. Trexquant Investment LP acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $4,446,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the period. Hedge funds and other institutional investors 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.