Palantir Technologies (NYSE:PLTR) Shares Gap Down – Here’s Why

Shares of Palantir Technologies Inc. (NYSE:PLTR) gapped down before the market opened on Tuesday . The stock had previously closed at $75.75, but opened at $73.28. Palantir Technologies shares last traded at $73.20, with a volume of 13,265,365 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wedbush upped their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $38.40.

Palantir Technologies Price Performance

The company has a 50 day moving average of $56.48 and a 200-day moving average of $39.01. The company has a market capitalization of $169.14 billion, a P/E ratio of 371.70, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the firm earned $0.03 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the sale, the director now directly owns 145,625 shares in the company, valued at approximately $5,558,506.25. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,612,366 shares of company stock valued at $1,867,342,292. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently bought and sold shares of PLTR. Brookstone Capital Management raised its holdings in shares of Palantir Technologies by 34.7% during the second quarter. Brookstone Capital Management now owns 31,975 shares of the company’s stock valued at $810,000 after purchasing an additional 8,243 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Palantir Technologies by 25.8% during the 2nd quarter. Raymond James & Associates now owns 1,939,208 shares of the company’s stock valued at $49,120,000 after buying an additional 397,896 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Palantir Technologies by 7.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,417,254 shares of the company’s stock worth $35,899,000 after buying an additional 92,653 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after acquiring an additional 379 shares during the period. Finally, Dakota Wealth Management lifted its position in shares of Palantir Technologies by 671.8% in the second quarter. Dakota Wealth Management now owns 96,061 shares of the company’s stock valued at $2,433,000 after acquiring an additional 83,615 shares in the last quarter. 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.