Palantir Technologies (NYSE:PLTR) Stock Price Down 1.8%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was down 1.8% during trading on Tuesday . The stock traded as low as $33.85 and last traded at $33.97. Approximately 32,614,781 shares traded hands during trading, a decline of 40% from the average daily volume of 54,588,805 shares. The stock had previously closed at $34.60.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLTR shares. DA Davidson raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Raymond James increased their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Performance

The firm has a market capitalization of $77.61 billion, a price-to-earnings ratio of 290.42, a P/E/G ratio of 5.35 and a beta of 2.72. The business has a fifty day moving average price of $29.34 and a 200 day moving average price of $25.34.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 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 return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares of the company’s stock, valued at $853,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at approximately $19,435,016.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 724,699 shares of company stock valued at $22,329,596. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. SG Americas Securities LLC raised its stake in Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares during the period. Accel Wealth Management acquired a new position in Palantir Technologies in the first quarter valued at approximately $360,000. Panagora Asset Management Inc. lifted its holdings in shares of Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter valued at approximately $262,000. Institutional investors and hedge funds 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.