Palantir Technologies (NYSE:PLTR) Trading Down 2.9%

Shares of Palantir Technologies Inc. (NYSE:PLTR) traded down 2.9% during trading on Tuesday . The company traded as low as $36.63 and last traded at $36.84. 29,441,154 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 57,361,750 shares. The stock had previously closed at $37.95.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLTR shares. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Jefferies Financial Group lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, DA Davidson increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Stock Performance

The business has a 50 day simple moving average of $30.76 and a 200-day simple moving average of $26.00. The firm has a market capitalization of $82.15 billion, a price-to-earnings ratio of 307.00 and a beta of 2.72.

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

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction on 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 $24,352,627.10. The transaction was disclosed in a legal filing with the SEC, 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 shares were 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 directly owns 752,786 shares in the company, valued at $24,352,627.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $84,728.00. Following the completion of the transaction, the director now owns 29,817 shares in the company, valued at $834,876. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,383,238 shares of company stock valued at $190,231,672. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vantage Financial Partners LLC increased its holdings in Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,124 shares during the period. Dimensional Fund Advisors LP raised its holdings in Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after acquiring an additional 228,428 shares in the last quarter. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter worth approximately $46,542,000. PNC Financial Services Group Inc. lifted its position in shares of Palantir Technologies by 11.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after purchasing an additional 5,759 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Palantir Technologies by 7.6% during the 4th quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after acquiring an additional 11,284 shares in the last quarter. Hedge funds and other 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.