Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1% - Here's What Happened

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) was down 1% during mid-day trading on Monday . The company traded as low as $129.13 and last traded at $130.44. Approximately 42,073,077 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 78,775,276 shares. The stock had previously closed at $131.78.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Trading Up 0.9%

The firm has a 50-day moving average of $107.55 and a two-hundred day moving average of $91.04. The firm has a market cap of $314.27 billion, a price-to-earnings ratio of 700.93, a PEG ratio of 10.84 and a beta of 2.64.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 39,825 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,901,701 shares of company stock valued at $370,407,533 over the last three months. 9.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allegiance Financial Group Advisory Services LLC grew its stake in Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after buying an additional 84 shares during the last quarter. Delta Investment Management LLC increased its stake in shares of Palantir Technologies by 1.9% in the 1st quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after buying an additional 90 shares during the period. Sovran Advisors LLC raised its position in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC lifted its stake in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.