Palantir Technologies (NYSE:PLTR) Stock Price Down 0.9%

Shares of Palantir Technologies Inc. (NYSE:PLTR) were down 0.9% on Thursday . The stock traded as low as $20.94 and last traded at $21.37. Approximately 22,477,175 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 63,194,531 shares. The stock had previously closed at $21.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PLTR shares. Royal Bank of Canada upped their price target on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday. Bank of America increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Citigroup boosted their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Finally, DA Davidson raised their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

The stock’s fifty day moving average is $23.28 and its two-hundred day moving average is $20.36. The firm has a market capitalization of $46.78 billion, a price-to-earnings ratio of 237.47, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders have sold 7,206,273 shares of company stock valued at $178,543,602 over the last ninety days. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of large investors have recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its stake in shares of Palantir Technologies by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company’s stock worth $1,351,000 after purchasing an additional 3,922 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of Palantir Technologies by 5.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 40,941 shares of the company’s stock worth $942,000 after buying an additional 1,946 shares in the last quarter. Midwest Professional Planners LTD. lifted its stake in shares of Palantir Technologies by 6.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 21,984 shares of the company’s stock worth $506,000 after acquiring an additional 1,306 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Palantir Technologies by 15.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,276,708 shares of the company’s stock valued at $29,377,000 after acquiring an additional 170,469 shares in the last quarter. Finally, Interchange Capital Partners LLC increased its stake in shares of Palantir Technologies by 33.8% during the first quarter. Interchange Capital Partners LLC now owns 15,250 shares of the company’s stock valued at $352,000 after acquiring an additional 3,856 shares during the period. Institutional investors and hedge funds 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.