Palantir Technologies (NYSE:PLTR) Trading Down 0.9%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price dropped 0.9% during trading on Wednesday . The stock traded as low as $36.38 and last traded at $36.55. Approximately 17,679,189 shares changed hands during trading, a decline of 69% from the average daily volume of 57,404,324 shares. The stock had previously closed at $36.90.

Analyst Ratings Changes

Several equities analysts recently issued reports on PLTR shares. Jefferies Financial Group lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup boosted their price objective 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. Northland Securities began coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Argus began coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Price Performance

The firm has a market capitalization of $82.39 billion, a P/E ratio of 304.61 and a beta of 2.72. The firm’s fifty day moving average price is $30.92 and its 200-day moving average price is $26.07.

Palantir Technologies (NYSE:PLTR) last released 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 analyst estimates of $653.23 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. 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 3,026 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now owns 69,039 shares in the company, valued at $2,000,059.83. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock valued at $190,231,672 over the last three months. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the period. ARK Investment Management LLC boosted its stake in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc grew its position in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after buying an additional 167,030 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its stake in shares of Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after buying an additional 1,580,548 shares during the last quarter. 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.