Palantir Technologies (NYSE:PLTR) Shares Down 0.7%

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) dropped 0.7% during mid-day trading on Friday . The stock traded as low as $20.79 and last traded at $20.98. Approximately 11,441,608 shares traded hands during trading, a decline of 82% from the average daily volume of 64,296,809 shares. The stock had previously closed at $21.13.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Bank of America increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 target price for the company. in a research report on Thursday, March 28th. Mizuho raised their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, March 7th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, HSBC downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 target price for the company. in a research report on Wednesday, February 14th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.35.

Palantir Technologies Stock Performance

The business's 50-day moving average price is $23.77 and its 200 day moving average price is $19.85. The company has a market cap of $45.31 billion, a P/E ratio of 227.53, a P/E/G ratio of 5.23 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its 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). The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies 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 completion of the sale, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares of the company's stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PLTR. AlphaCrest Capital Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $206,000. D.A. Davidson & CO. raised its position in shares of Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company's stock valued at $200,000 after buying an additional 2,286 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $1,475,000. Cibc World Market Inc. raised its position in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company's stock valued at $3,114,000 after buying an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company's stock valued at $15,832,000 after buying an additional 482,171 shares in 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.