Palantir Technologies (NASDAQ:PLTR) Trading Down 11.9% - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price was down 11.9% during trading on Tuesday . The company traded as low as $105.32 and last traded at $109.06. Approximately 96,594,215 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 75,815,654 shares. The stock had previously closed at $123.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday. 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 report on Tuesday, February 4th. Finally, UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.70.

Palantir Technologies Stock Up 6.8 %

The stock has a market cap of $276.82 billion, a price-to-earnings ratio of 621.24, a PEG ratio of 10.84 and a beta of 2.68. The stock's fifty day moving average is $92.85 and its 200-day moving average is $80.95.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $863.89 million. During the same quarter in the prior year, the company earned $0.08 EPS. The company's revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction dated 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 sale, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,978,181 shares of company stock worth $252,115,667. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. FMR LLC grew its stake in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. 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.