Palantir Technologies (NYSE:PLTR) Stock Price Down 0.7%

Palantir Technologies Inc. (NYSE:PLTR) traded down 0.7% during mid-day trading on Friday . The stock traded as low as $20.79 and last traded at $20.98. 11,441,608 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 64,296,809 shares. The stock had previously closed at $21.13.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $20.00 in a 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 research report on Wednesday, February 14th. Raymond James boosted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Finally, Bank of America upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Down 2.1 %

The firm has a fifty day moving average price of $23.84 and a 200-day moving average price of $19.82. The firm has a market cap of $45.76 billion, a price-to-earnings ratio of 233.14, a PEG ratio of 5.23 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results 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). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. BlackRock Inc. increased its holdings in Palantir Technologies by 2.0% in the first quarter. BlackRock Inc. now owns 98,631,611 shares of the company’s stock worth $833,437,000 after buying an additional 1,937,114 shares during the last quarter. State Street Corp raised its position in Palantir Technologies by 3.0% during the first quarter. State Street Corp now owns 35,503,622 shares of the company’s stock valued at $300,003,000 after acquiring an additional 1,047,522 shares in the last quarter. Geode Capital Management LLC lifted its stake in Palantir Technologies by 3.3% in the first quarter. Geode Capital Management LLC now owns 23,712,480 shares of the company’s stock valued at $200,086,000 after acquiring an additional 747,652 shares during the last quarter. Finally, Morgan Stanley grew its position in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other 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.