Palantir Technologies (NYSE:PLTR) Shares Down 1%

Shares of Palantir Technologies Inc. (NYSE:PLTR) traded down 1% on Monday . The stock traded as low as $22.40 and last traded at $22.45. 14,662,388 shares traded hands during trading, a decline of 78% from the average session volume of 66,038,547 shares. The stock had previously closed at $22.67.

Wall Street Analyst Weigh In

Several research firms have commented on PLTR. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Wedbush reissued an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The stock has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $19.80. The company has a market capitalization of $48.39 billion, a PE ratio of 243.00, a P/E/G ratio of 5.37 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In related news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the transaction, the director now owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the transaction, the director now owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shyam Sankar sold 29,168 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Halpern Financial Inc. increased its position in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the period. Harbor Investment Advisory LLC increased its position in shares of Palantir Technologies by 16.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after purchasing an additional 463 shares during the period. Fiduciary Alliance LLC increased its position in shares of Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after purchasing an additional 618 shares during the period. West Paces Advisors Inc. increased its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Finally, AXS Investments LLC increased its position in shares of Palantir Technologies by 1.5% during the 4th quarter. AXS Investments LLC now owns 42,264 shares of the company’s stock valued at $726,000 after purchasing an additional 626 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.