Palantir Technologies (NASDAQ:PLTR) Shares Down 0.2% - Here's What Happened

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price traded down 0.2% during mid-day trading on Friday . The stock traded as low as $126.76 and last traded at $127.90. 25,070,375 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 76,530,232 shares. The stock had previously closed at $128.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Mizuho raised their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Price Performance

The business's 50 day simple moving average is $98.72 and its 200 day simple moving average is $85.13. The stock has a market cap of $303.77 billion, a P/E ratio of 681.72, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $64,958,509.98. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock worth $250,504,866 in the last quarter. Insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently bought and sold shares of the business. Mather Group LLC. grew its holdings in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after acquiring an additional 448 shares during the period. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $3,233,000. Grange Capital LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $5,829,000. Finally, Lake Street Private Wealth LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $527,000. Institutional investors and hedge funds own 45.65% of the company's stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.