Palantir Technologies (NYSE:PLTR) Trading 0.8% Higher

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s share price was up 0.8% on Wednesday . The stock traded as high as $22.25 and last traded at $21.82. Approximately 12,912,954 shares were traded during trading, a decline of 80% from the average daily volume of 63,258,164 shares. The stock had previously closed at $21.64.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a research note on Wednesday, February 14th. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, February 6th. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, March 7th. Royal Bank of Canada reiterated an "underperform" rating and set a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an "underperform" rating to a "hold" rating and upped their price objective for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.35.

Palantir Technologies Trading Down 0.3 %

The company has a market capitalization of $47.75 billion, a PE ratio of 239.80, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78. The business's fifty day moving average is $23.57 and its two-hundred day moving average is $20.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly 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 company had revenue of $608.35 million for the quarter, compared to analysts' expectations of $603.48 million. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the business's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares of the company's stock, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company's stock worth $3,327,636,000 after buying an additional 6,466,596 shares during the last quarter. Morgan Stanley lifted its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company's stock worth $335,284,000 after purchasing an additional 1,980,495 shares during the period. Northern Trust Corp increased its position in shares of Palantir Technologies by 5.5% during the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company's stock valued at $183,979,000 after purchasing an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company's stock worth $187,803,000 after buying an additional 1,514,232 shares during the last quarter. 45.65% of the stock is currently owned by 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.