Palantir Technologies (NYSE:PLTR) Trading Down 1.1%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shares fell 1.1% during mid-day trading on Tuesday . The company traded as low as $21.27 and last traded at $21.65. 14,810,900 shares traded hands during trading, a decline of 77% from the average session volume of 65,661,961 shares. The stock had previously closed at $21.90.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Citigroup upgraded Palantir Technologies from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Wedbush restated an "outperform" rating and set a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Raymond James boosted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, February 6th. Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, March 7th. Finally, Bank of America upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.35.

Palantir Technologies Trading Down 0.1 %

The stock has a market capitalization of $48.39 billion, a P/E ratio of 241.03, a price-to-earnings-growth ratio of 5.56 and a beta of 2.78. The company has a 50-day moving average price of $23.96 and a 200 day moving average price of $19.76.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released 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 company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 5,000 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the transaction, the director now directly owns 186,783 shares of the company's stock, valued at approximately $4,247,445.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ryan D. Taylor sold 120,000 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company's stock, valued at approximately $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 5,000 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the sale, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The disclosure for this sale can be found here. In the last three months, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company's stock.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company's stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Palantir Technologies by 2.0% during the first quarter. BlackRock Inc. now owns 98,631,611 shares of the company's stock valued at $833,437,000 after acquiring an additional 1,937,114 shares during the last quarter. State Street Corp increased its holdings in shares of Palantir Technologies by 3.0% in the first quarter. State Street Corp now owns 35,503,622 shares of the company's stock valued at $300,003,000 after purchasing an additional 1,047,522 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 3.3% in the first quarter. Geode Capital Management LLC now owns 23,712,480 shares of the company's stock valued at $200,086,000 after purchasing an additional 747,652 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Palantir Technologies by 26.1% in the third 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. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.