Palantir Technologies (NASDAQ:PLTR) Trading Down 0.3% - Here's Why

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares were down 0.3% during mid-day trading on Tuesday . The company traded as low as $124.65 and last traded at $126.00. Approximately 24,794,220 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 76,819,885 shares. The stock had previously closed at $126.33.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PLTR shares. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Up 0.8%

The firm has a fifty day simple moving average of $102.66 and a two-hundred day simple moving average of $87.59. The firm has a market cap of $289.21 billion, a PE ratio of 649.03, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business's revenue was up 39.4% compared to the same quarter last year. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,931,701 shares of company stock valued at $373,180,433. Corporate insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter worth $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth $27,000. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth $27,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors 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.