Palantir Technologies (NYSE:PLTR) Trading Down 2%

Palantir Technologies Inc. (NYSE:PLTR) was down 2% on Tuesday . The company traded as low as $36.43 and last traded at $36.46. Approximately 20,304,463 shares were traded during mid-day 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 research analysts recently commented on the company. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Northland Securities began coverage on Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Stock Performance

The business has a 50 day moving average of $31.61 and a two-hundred day moving average of $26.42. The stock 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 released its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the transaction, the director now directly owns 145,625 shares in the company, valued at $5,558,506.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,644,559 shares of company stock worth $346,929,762. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of the business. Vantage Financial Partners LLC lifted its holdings in shares of Palantir Technologies by 20.2% in the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after buying an additional 10,124 shares during the period. Franklin Resources Inc. boosted its position in Palantir Technologies by 19.9% in the 4th quarter. Franklin Resources Inc. now owns 84,004 shares of the company’s stock worth $1,442,000 after purchasing an additional 13,958 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in Palantir Technologies by 14.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 54,793 shares of the company’s stock worth $913,000 after purchasing an additional 6,847 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Palantir Technologies by 28.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 78,124 shares of the company’s stock worth $1,341,000 after purchasing an additional 17,163 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Palantir Technologies by 14.3% during the 4th quarter. TD Asset Management Inc now owns 426,739 shares of the company’s stock valued at $7,327,000 after purchasing an additional 53,467 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.