Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.4% - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares fell 1.4% during mid-day trading on Thursday . The stock traded as low as $125.74 and last traded at $128.30. 27,893,367 shares changed hands during trading, a decline of 64% from the average session volume of 76,429,783 shares. The stock had previously closed at $130.18.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Loop Capital upped their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Mizuho increased their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Five equities 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 company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Trading Up 1.1%

The business has a 50-day moving average price of $98.72 and a 200-day moving average price of $85.13. The stock has a market cap of $303.77 billion, a PE ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS 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 firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the company earned $0.08 EPS. The firm'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 year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 18,537 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the sale, the insider now directly owns 493,469 shares of the company's stock, valued at $50,491,748.08. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at $48,988. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock valued at $250,504,866 in the last three months. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp boosted its holdings in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Invesco Ltd. boosted its holdings in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the period. Finally, FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.