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

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLTR shares. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $26.79.

Palantir Technologies Stock Down 0.5 %

The business has a fifty day moving average of $30.20 and a 200 day moving average of $25.74. The company has a market cap 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 released 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 company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the company earned $0.01 earnings per share. Palantir Technologies’s quarterly revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on 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 completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,383,238 shares of company stock worth $190,231,672. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. 1832 Asset Management L.P. raised its position in Palantir Technologies by 248,208.2% in the first 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 during the period. Marshall Wace LLP boosted its stake in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $46,542,000. Finally, Coatue Management LLC grew its position in shares of Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after acquiring an additional 2,553,432 shares during the period. Institutional investors 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.