Palantir Technologies (NYSE:PLTR) Stock Price Down 0.5%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s share price traded down 0.5% on Wednesday . The company traded as low as $21.06 and last traded at $21.29. 28,514,582 shares were traded during trading, a decline of 55% from the average session volume of 63,182,445 shares. The stock had previously closed at $21.40.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a "sell" rating in a report on Tuesday. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a "sell" rating to a "neutral" rating in a report on Friday, April 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $35.00 price objective on shares of Palantir Technologies in a research note on Monday. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $20.65.

Palantir Technologies Stock Performance

The business's 50-day moving average is $23.34 and its two-hundred day moving average is $20.35. The firm has a market capitalization of $47.71 billion, a price-to-earnings ratio of 237.92, a P/E/G ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings data 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 during 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%. Analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 150,000 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Shyam Sankar sold 29,168 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $18,819,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 150,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $4,355,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pursue Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,741,000. Qsemble Capital Management LP bought a new stake in Palantir Technologies in the third quarter valued at approximately $1,178,000. Trexquant Investment LP acquired a new stake in shares of Palantir Technologies in the third quarter valued at approximately $4,446,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company's stock worth $20,549,000 after acquiring an additional 116,220 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Palantir Technologies by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company's stock worth $10,959,000 after acquiring an additional 25,787 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.