Palantir Technologies (NYSE:PLTR) Trading Down 0.6%

Shares of Palantir Technologies Inc. (NYSE:PLTR) dropped 0.6% during trading on Wednesday . The stock traded as low as $24.39 and last traded at $24.42. Approximately 5,641,103 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 56,943,496 shares. The stock had previously closed at $24.56.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. HSBC upped their price target on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price for the company. DA Davidson boosted their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 203.52, a price-to-earnings-growth ratio of 5.67 and a beta of 2.70. The company has a 50-day moving average of $22.39 and a 200-day moving average of $21.39.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the transaction, the director now owns 32,843 shares in the company, valued at $853,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,422 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $22.94, for a total transaction of $468,480.68. Following the completion of the transaction, the director now directly owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,377,153 shares of company stock worth $240,054,945. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Truvestments Capital LLC grew its position in shares of Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the period. First United Bank & Trust acquired a new stake in Palantir Technologies in the 4th quarter valued at about $26,000. Pacifica Partners Inc. bought a new position in Palantir Technologies during the fourth quarter worth about $27,000. West Paces Advisors Inc. increased its position 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 buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.