Palantir Technologies (NASDAQ:PLTR) Shares Down 2% - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price was down 2% during trading on Tuesday . The stock traded as low as $145.06 and last traded at $148.69. Approximately 24,611,223 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 83,049,765 shares. The stock had previously closed at $151.79.

Analysts Set New Price Targets

Several equities research analysts have commented on PLTR shares. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Wedbush set a $160.00 target price on shares of Palantir Technologies in a report on Thursday, July 10th. DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $91.37.

Palantir Technologies Price Performance

The business has a fifty day moving average price of $135.91 and a 200 day moving average price of $107.70. The company has a market capitalization of $363.40 billion, a price-to-earnings ratio of 665.55, a price-to-earnings-growth ratio of 12.73 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the company posted $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction that occurred 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 completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last ninety days. Company insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $31,000. Adirondack Trust Co. increased its stake in shares of Palantir Technologies by 185.0% in the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock valued at $39,000 after buying an additional 185 shares during the period. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $25,000. Finally, Park Place Capital Corp boosted its position in shares of Palantir Technologies by 48.1% during the 2nd quarter. Park Place Capital Corp now owns 308 shares of the company's stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.