Palantir Technologies (NYSE:PLTR) Shares Down 2%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was down 2% during trading on Tuesday . The company traded as low as $36.43 and last traded at $36.46. Approximately 20,304,463 shares traded hands during trading, a decline of 64% from the average daily volume of 57,161,164 shares. The stock had previously closed at $37.20.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLTR shares. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Wedbush increased their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Trading Down 1.9 %

The company has a fifty day simple moving average of $31.61 and a 200-day simple moving average of $26.42. The company has a market capitalization of $81.70 billion, a PE ratio of 303.86 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly 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 quarter in the prior year, the business earned $0.01 EPS. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Peter Thiel sold 4,254,666 shares of Palantir Technologies stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the completion of the sale, the director now directly owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following 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. In the last ninety days, insiders sold 9,644,559 shares of company stock worth $346,929,762. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake 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 buying an additional 6,466,596 shares during the period. 1832 Asset Management L.P. grew its holdings in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after acquiring an additional 3,623,840 shares in the last quarter. Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Coatue Management LLC increased its position in shares of Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of 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 worth $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.