Palantir Technologies (NYSE:PLTR) Shares Down 1.6%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) was down 1.6% during mid-day trading on Tuesday . The stock traded as low as $21.12 and last traded at $21.27. Approximately 9,639,796 shares traded hands during trading, a decline of 84% from the average daily volume of 61,393,461 shares. The stock had previously closed at $21.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson increased their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, March 7th. Wedbush reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a "sell" rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $20.65.

Palantir Technologies Price Performance

The firm has a market capitalization of $47.29 billion, a PE ratio of 176.97, a P/E/G ratio of 4.97 and a beta of 2.76. The company's fifty day simple moving average is $22.59 and its 200-day simple moving average is $20.72.

Insiders Place Their Bets

In other news, Director Peter Thiel sold 7,044,756 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Alexander D. Moore sold 20,000 shares of the business's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company's stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares of the company's stock, valued at $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders sold 18,449,417 shares of company stock worth $415,467,436. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently made changes to their positions in the company. Pursue Wealth Partners LLC acquired a new stake in Palantir Technologies during the fourth quarter worth $1,741,000. Qsemble Capital Management LP acquired a new position in Palantir Technologies in the third quarter valued at about $1,178,000. Trexquant Investment LP purchased a new position in Palantir Technologies during the third quarter worth about $4,446,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company's stock valued at $20,549,000 after acquiring an additional 116,220 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Palantir Technologies by 3.9% in 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. 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.