Palantir Technologies (NYSE:PLTR) Stock Price Down 0.5%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 0.5% during mid-day trading on Wednesday . The stock traded as low as $21.06 and last traded at $21.29. Approximately 28,514,582 shares changed hands during trading, a decline of 55% from the average daily volume of 63,182,445 shares. The stock had previously closed at $21.40.

Analyst Ratings Changes

Several brokerages have recently commented on PLTR. HSBC raised their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday. Mizuho raised their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Monday. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Trading Up 0.6 %

The stock has a fifty day moving average price of $23.20 and a 200 day moving average price of $20.36. The firm has a market cap of $47.06 billion, a price-to-earnings ratio of 234.91, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 net margin of 9.43% and a return on equity of 6.17%. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 32,828 shares of Palantir Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,201,273 shares of company stock worth $178,418,102. 13.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in the company. Halpern Financial Inc. raised its stake in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Palantir Technologies by 16.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after buying an additional 463 shares during the period. Principle Wealth Partners LLC raised its stake in shares of Palantir Technologies by 4.8% in the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock valued at $241,000 after buying an additional 481 shares in the last quarter. GSB Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 4.6% during the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after acquiring an additional 595 shares during the period. Finally, Fiduciary Alliance LLC boosted its position in shares of Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares in the last quarter. 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.