Palantir Technologies (NYSE:PLTR) Stock Price Down 0.6%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shares were down 0.6% on Wednesday . The company traded as low as $21.80 and last traded at $21.84. Approximately 8,493,268 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 61,291,879 shares. The stock had previously closed at $21.97.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PLTR shares. Royal Bank of Canada reiterated an "underperform" rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Citigroup raised shares of Palantir Technologies from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Mizuho lifted their price target 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. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, February 6th. Finally, Monness Crespi & Hardt upgraded shares of Palantir Technologies from a "sell" rating to a "neutral" rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $18.35.

Palantir Technologies Trading Up 0.7 %

The firm has a fifty day moving average of $23.38 and a 200 day moving average of $20.16. The company has a market capitalization of $48.95 billion, a P/E ratio of 245.81, a P/E/G ratio of 5.60 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly 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 firm had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, 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 transaction, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $18,819,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 value of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company's stock, valued at approximately $4,355,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last three months. 13.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company's stock worth $2,997,419,000 after acquiring an additional 18,756,392 shares in the last quarter. Morgan Stanley raised its holdings in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock worth $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd raised its holdings in shares of Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company's stock worth $84,571,000 after acquiring an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $55,719,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company's stock worth $49,720,000 after acquiring an additional 2,742,071 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.