Palantir Technologies (NASDAQ:PLTR) Shares Down 0.5% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded down 0.5% during trading on Tuesday . The company traded as low as $75.67 and last traded at $76.80. 20,001,207 shares were traded during mid-day trading, a decline of 68% from the average session volume of 61,553,973 shares. The stock had previously closed at $77.18.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Price Performance

The firm’s 50 day moving average is $64.29 and its two-hundred day moving average is $43.29. The firm has a market capitalization of $172.29 billion, a P/E ratio of 378.17, a PEG ratio of 10.18 and a beta of 2.87.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,180,723 shares of company stock valued at $1,408,957,941 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the business. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.