Palantir Technologies (NYSE:PLTR) Trading Down 1%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) fell 1% during trading on Monday . The company traded as low as $22.40 and last traded at $22.45. 14,662,388 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 66,038,547 shares. The stock had previously closed at $22.67.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. Jefferies Financial Group upgraded Palantir Technologies from an "underperform" rating to a "hold" rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 target price on the stock. in a research note on Wednesday, February 14th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, March 7th. Royal Bank of Canada restated an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Monness Crespi & Hardt cut Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 price target for the company. in a research report on Thursday, March 28th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $18.35.

Palantir Technologies Trading Down 3.3 %

The firm has a market cap of $48.49 billion, a price-to-earnings ratio of 249.47, a PEG ratio of 5.56 and a beta of 2.78. The firm has a 50-day moving average of $23.85 and a two-hundred day moving average of $19.72.

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

Insider Activity

In related news, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company's stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at about $1,186,000. Brookstone Capital Management acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $546,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $228,000. Sound Income Strategies LLC increased its position in shares of Palantir Technologies by 678.6% in the first quarter. Sound Income Strategies LLC now owns 2,437 shares of the company's stock valued at $56,000 after acquiring an additional 2,124 shares during the last quarter. Finally, West Paces Advisors Inc. increased its position in shares of 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 acquiring an additional 620 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.