Palantir Technologies (NYSE:PLTR) Shares Down 1.1%

Palantir Technologies Inc. (NYSE:PLTR) was down 1.1% during mid-day trading on Tuesday . The company traded as low as $21.27 and last traded at $21.65. Approximately 14,810,900 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 65,661,961 shares. The stock had previously closed at $21.90.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PLTR shares. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Thursday, March 28th. Bank of America boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Raymond James boosted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Mizuho boosted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Trading Down 2.7 %

The stock’s 50-day moving average is $23.91 and its 200-day moving average is $19.81. The firm has a market capitalization of $47.12 billion, a price-to-earnings ratio of 236.64, a PEG ratio of 5.37 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company 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%. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the sale, the director now directly owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Alexandra W. Schiff sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the sale, the director now directly owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 150,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at $4,355,040. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock valued at $184,343,202 in the last ninety days. 13.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Vanguard Group Inc. boosted its stake in Palantir Technologies by 22.4% during the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after acquiring an additional 28,563,749 shares in the last quarter. Norges Bank acquired a new position in Palantir Technologies during the fourth quarter worth $39,395,000. Morgan Stanley raised its holdings in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd raised its holdings in Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after buying an additional 4,011,100 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Palantir Technologies by 194.8% during the second quarter. Millennium Management LLC now owns 1,895,920 shares of the company’s stock worth $17,196,000 after buying an additional 3,895,920 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.