Palantir Technologies (NYSE:PLTR) Stock Price Down 6.1%

Palantir Technologies Inc. (NYSE:PLTR)’s share price was down 6.1% on Friday . The company traded as low as $22.94 and last traded at $23.01. Approximately 70,008,165 shares traded hands during trading, an increase of 11% from the average daily volume of 62,928,808 shares. The stock had previously closed at $24.51.

Analyst Ratings Changes

A number of analysts recently weighed in on PLTR shares. Raymond James upped their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Finally, Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research report on Thursday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Performance

The firm has a market cap of $50.91 billion, a price-to-earnings ratio of 255.70, a price-to-earnings-growth ratio of 6.01 and a beta of 2.82. The business’s 50 day moving average price is $22.54 and its 200-day moving average price is $19.06.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business 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, analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The disclosure for this sale can be found here. Insiders have sold a total of 7,455,273 shares of company stock worth $184,293,942 over the last quarter. 13.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC boosted its holdings in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. First United Bank & Trust bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. Resurgent Financial Advisors LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Finally, GAMMA Investing LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.