Palantir Technologies (NYSE:PLTR) Shares Down 0.1%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shares were down 0.1% on Wednesday . The company traded as low as $21.19 and last traded at $21.41. Approximately 18,207,513 shares traded hands during trading, a decline of 71% from the average daily volume of 62,678,254 shares. The stock had previously closed at $21.44.

Analysts Set New Price Targets

Several brokerages have weighed in on PLTR. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $18.00 to $20.00 and gave the company a "sell" rating in a research note on Tuesday, May 7th. HSBC increased their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Tuesday, May 7th. 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, May 7th. Citigroup increased their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. Finally, Raymond James upped their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $20.65.

Palantir Technologies Price Performance

The company has a market capitalization of $47.96 billion, a price-to-earnings ratio of 179.26, a PEG ratio of 4.78 and a beta of 2.76. The firm's fifty day simple moving average is $23.00 and its 200 day simple moving average is $20.54.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 8,521 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the sale, the insider now directly owns 703,485 shares of the company's stock, valued at $16,370,095.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Heather A. Planishek sold 8,521 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the transaction, the insider now owns 703,485 shares in the company, valued at $16,370,095.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $23.57, for a total transaction of $1,178,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company's stock, valued at $17,743,166.02. The disclosure for this sale can be found here. Insiders sold a total of 18,457,938 shares of company stock valued at $415,665,719 over the last quarter. Company insiders own 13.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Palantir Technologies by 31.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,877,457 shares of the company's stock valued at $135,241,000 after acquiring an additional 1,413,417 shares during the period. BOKF NA boosted its holdings in Palantir Technologies by 394.4% in the 1st quarter. BOKF NA now owns 30,039 shares of the company's stock valued at $687,000 after purchasing an additional 23,963 shares during the period. Lazard Asset Management LLC grew its position in Palantir Technologies by 133.0% in the 1st quarter. Lazard Asset Management LLC now owns 472,497 shares of the company's stock worth $10,871,000 after purchasing an additional 269,697 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company's stock worth $83,418,000 after purchasing an additional 3,623,840 shares during the period. Finally, Truvestments Capital LLC raised its position in shares of Palantir Technologies by 927.1% during the first quarter. Truvestments Capital LLC now owns 9,788 shares of the company's stock valued at $225,000 after buying an additional 8,835 shares during 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.

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