Palantir Technologies (NYSE:PLTR) Stock Price Down 1.5%

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) fell 1.5% during trading on Friday . The company traded as low as $20.79 and last traded at $20.82. 21,150,518 shares changed hands during trading, a decline of 66% from the average session volume of 63,069,324 shares. The stock had previously closed at $21.14.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday. DA Davidson upped their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday. Citigroup boosted their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday. Bank of America upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Finally, Wedbush restated an "outperform" rating and set a $35.00 target price on shares of Palantir Technologies in a research note on Monday. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.65.

Palantir Technologies Price Performance

The firm has a market capitalization of $45.63 billion, a P/E ratio of 231.36, a P/E/G ratio of 5.72 and a beta of 2.76. The firm has a 50-day moving average price of $23.20 and a two-hundred day moving average price of $20.36.

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

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the sale, the director now owns 191,783 shares of the company's stock, valued at $4,777,314.53. The disclosure for this sale can be found here. Insiders sold 7,201,273 shares of company stock worth $178,418,102 over the last three months. 13.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Truvestments Capital LLC grew its stake in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock worth $26,000 after acquiring an additional 700 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $26,000. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company's stock worth $27,000 after acquiring an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company's stock worth $31,000 after acquiring an additional 691 shares during the last quarter. Hedge funds and other institutional investors 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.

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