Palantir Technologies (NYSE:PLTR) Shares Down 1.8% – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR)’s share price fell 1.8% on Tuesday . The company traded as low as $41.52 and last traded at $42.64. 23,671,379 shares were traded during mid-day trading, a decline of 59% from the average session volume of 57,163,090 shares. The stock had previously closed at $43.40.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLTR. Monness Crespi & Hardt lowered 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. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Citigroup increased their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Performance

The firm’s 50 day moving average is $34.46 and its 200 day moving average is $27.59. The stock has a market cap of $94.51 billion, a P/E ratio of 355.33 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued 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). The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now directly owns 145,625 shares of the company’s stock, valued at $5,558,506.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,829,855 shares of company stock worth $649,272,355 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. raised its stake in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.