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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLTR shares. Bank of America raised their price target 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. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Raymond James lifted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Finally, Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a report on Thursday, March 28th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

The company has a market cap of $45.29 billion, a price-to-earnings ratio of 227.47, a P/E/G ratio of 5.18 and a beta of 2.78. The firm’s 50 day simple moving average is $23.77 and its 200-day simple moving average is $19.89.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLTR. Maryland State Retirement & Pension System boosted its position in Palantir Technologies by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 151,097 shares of the company’s stock worth $3,209,000 after acquiring an additional 2,887 shares during the last quarter. Accel Wealth Management acquired a new stake in Palantir Technologies during the first quarter worth approximately $360,000. First Trust Direct Indexing L.P. boosted its position in Palantir Technologies by 43.9% during the first quarter. First Trust Direct Indexing L.P. now owns 21,291 shares of the company’s stock worth $490,000 after acquiring an additional 6,491 shares during the last quarter. Financial Sense Advisors Inc. boosted its position in Palantir Technologies by 6.1% during the first quarter. Financial Sense Advisors Inc. now owns 17,400 shares of the company’s stock worth $400,000 after acquiring an additional 1,000 shares during the last quarter. Finally, United Capital Management of KS Inc. boosted its position in Palantir Technologies by 4.7% during the first quarter. United Capital Management of KS Inc. now owns 584,951 shares of the company’s stock worth $13,460,000 after acquiring an additional 26,084 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.