Palantir Technologies (NYSE:PLTR) Shares Down 0.2%

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLTR shares. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Wedbush increased their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. DA Davidson boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Monness Crespi & Hardt cut their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.29.

Palantir Technologies Stock Up 0.2 %

The business has a 50-day moving average of $31.43 and a two-hundred day moving average of $26.33. The firm has a market capitalization of $82.64 billion, a price-to-earnings ratio of 306.28 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share 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 firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the prior year, the company posted $0.01 earnings per share. Palantir Technologies’s quarterly revenue was up 27.2% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now owns 29,817 shares of the company’s stock, valued at $834,876. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 3,026 shares of the business’s 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 sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,644,559 shares of company stock valued at $346,929,762. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Palantir Technologies by 15.7% in 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 last quarter. ARK Investment Management LLC boosted its stake in Palantir Technologies by 2.2% in the second 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 in the last quarter. Legal & General Group Plc grew its position in Palantir Technologies by 1.4% during the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. 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 acquiring an additional 1,580,548 shares in the last quarter. 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.