Palantir Technologies (NYSE:PLTR) Stock Price Down 2.2%

Palantir Technologies Inc. (NYSE:PLTR) was down 2.2% during trading on Friday . The stock traded as low as $35.71 and last traded at $36.03. Approximately 22,066,109 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 55,040,855 shares. The stock had previously closed at $36.83.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Monness Crespi & Hardt decreased their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Trading Down 0.5 %

The business has a 50-day moving average price of $30.20 and a 200 day moving average price of $25.74. The stock has a market capitalization of $81.64 billion, a P/E ratio of 300.25, a P/E/G ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 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 business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock valued at $190,231,672 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners LLC increased its stake in shares of Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after buying an additional 10,124 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Palantir Technologies by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after purchasing an additional 228,428 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Palantir Technologies by 44.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 24,492 shares of the company’s stock worth $421,000 after purchasing an additional 7,574 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares in the last quarter. Finally, Level Four Advisory Services LLC increased its holdings in Palantir Technologies by 8.1% during the fourth quarter. Level Four Advisory Services LLC now owns 20,665 shares of the company’s stock valued at $355,000 after buying an additional 1,551 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.