Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.2% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 0.2% on Friday . The stock traded as low as $126.76 and last traded at $127.90. 25,070,375 shares were traded during trading, a decline of 67% from the average session volume of 76,530,232 shares. The stock had previously closed at $128.12.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLTR. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Stock Up 1.1%

The firm has a market cap of $303.77 billion, a PE ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The stock has a 50 day moving average price of $98.72 and a two-hundred day moving average price of $85.13.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now directly owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Woodline Partners LP lifted its holdings in shares of Palantir Technologies by 36.0% during the first quarter. Woodline Partners LP now owns 173,179 shares of the company’s stock worth $14,616,000 after purchasing an additional 45,800 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth about $303,000. Ascent Group LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $799,000. Meiji Yasuda Life Insurance Co lifted its holdings in Palantir Technologies by 77.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 24,343 shares of the company’s stock valued at $2,055,000 after acquiring an additional 10,623 shares during the period. Finally, United Services Automobile Association lifted its holdings in Palantir Technologies by 2.2% in the first quarter. United Services Automobile Association now owns 47,630 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,011 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.