Palantir Technologies (NYSE:PLTR) Shares Down 0.1%

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) dropped 0.1% on Wednesday . The company traded as low as $21.27 and last traded at $21.88. Approximately 33,869,201 shares changed hands during trading, a decline of 7% from the average daily volume of 36,256,228 shares. The stock had previously closed at $21.90.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, February 6th. Citigroup raised Palantir Technologies from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $10.00 to $20.00 in a report 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 report on Wednesday, February 14th. Monness Crespi & Hardt downgraded Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 target price on the stock. in a report on Thursday, March 28th. Finally, Bank of America lifted 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 given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.35.

Palantir Technologies Stock Performance

The business has a 50 day moving average price of $23.91 and a 200-day moving average price of $19.81. The company has a market capitalization of $47.12 billion, a price-to-earnings ratio of 236.61, a P/E/G ratio of 5.37 and a beta of 2.78.

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

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 5,000 shares of the company's stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company's stock, valued at approximately $4,355,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the transaction, the director now directly owns 186,783 shares of the company's stock, valued at $4,247,445.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of the business. Truvestments Capital LLC lifted its stake in Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock valued at $26,000 after purchasing an additional 700 shares during the last quarter. First United Bank & Trust purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. lifted its stake in 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 purchasing an additional 620 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $28,000. 45.65% of the stock is owned by institutional investors.

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.