Palantir Technologies (NYSE:PLTR) Stock Price Down 1.1%

Palantir Technologies Inc. (NYSE:PLTR) dropped 1.1% during mid-day trading on Monday . The stock traded as low as $29.51 and last traded at $29.69. Approximately 36,288,820 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 55,528,902 shares. The stock had previously closed at $30.01.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLTR shares. Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, DA Davidson lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Six investment 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 MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.14.

Palantir Technologies Stock Up 2.0 %

The company has a market capitalization of $69.01 billion, a price-to-earnings ratio of 257.60, a P/E/G ratio of 5.29 and a beta of 2.71. The business’s 50-day moving average is $26.29 and its 200-day moving average is $23.88.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 414,080 shares of company stock worth $11,882,724. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after acquiring an additional 3,623,840 shares during the last quarter. Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $46,542,000. Finally, Coatue Management LLC lifted its holdings in Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares in the last quarter. Institutional investors and hedge funds 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.