Palantir Technologies (NYSE:PLTR) Shares Down 1.6%

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) dropped 1.6% during trading on Thursday . The company traded as low as $20.66 and last traded at $21.24. Approximately 10,206,765 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 62,877,492 shares. The stock had previously closed at $21.59.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLTR shares. Monness Crespi & Hardt cut shares of Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 price objective on the stock. in a research report on Thursday, March 28th. HSBC lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Wedbush reissued an "outperform" rating and issued a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. 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. Finally, Royal Bank of Canada reiterated an "underperform" rating and issued a $5.00 price objective on shares of Palantir Technologies in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.35.

Palantir Technologies Price Performance

The stock has a market cap of $48.04 billion, a PE ratio of 241.25, a price-to-earnings-growth ratio of 5.31 and a beta of 2.78. The stock has a 50-day moving average price of $23.57 and a two-hundred day moving average price of $20.00.

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 analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $608.35 million for the quarter, compared to analysts' expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on 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 owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 181,460 shares of the company's stock, valued at approximately $3,992,120. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in the stock. Halpern Financial Inc. grew its position in shares of Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company's stock worth $33,000 after buying an additional 440 shares in the last quarter. Harbor Investment Advisory LLC raised its position in shares of Palantir Technologies by 16.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company's stock worth $74,000 after acquiring an additional 463 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in Palantir Technologies by 4.8% during the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company's stock worth $241,000 after purchasing an additional 481 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company's stock valued at $1,044,000 after acquiring an additional 618 shares in the last quarter. Finally, 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 buying an additional 620 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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