Palantir Technologies (NYSE:PLTR) Stock Price Down 0.2%

Palantir Technologies Inc. (NYSE:PLTR) traded down 0.2% during mid-day trading on Monday . The stock traded as low as $36.15 and last traded at $36.75. 13,608,808 shares were traded during trading, a decline of 76% from the average session volume of 57,202,414 shares. The stock had previously closed at $36.84.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush raised their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Five 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, the stock has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Trading Up 0.2 %

The company has a market capitalization of $82.64 billion, a price-to-earnings ratio of 306.28 and a beta of 2.72. The stock’s fifty day simple moving average is $31.43 and its 200-day simple moving average is $26.33.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 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 return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the company posted $0.01 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares in the company, valued at approximately $5,558,506.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,644,559 shares of company stock worth $346,929,762. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of PLTR. Vanguard Group Inc. raised 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 purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake 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 worth $335,284,000 after buying an additional 1,980,495 shares during the period. ARK Investment Management LLC increased its stake in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares during the period. Legal & General Group Plc lifted its holdings in Palantir Technologies by 1.4% in 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 in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $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.