Palantir Technologies (NYSE:PLTR) Stock Price Down 0.2%

Palantir Technologies Inc. (NYSE:PLTR) was down 0.2% on Monday . The stock traded as low as $36.15 and last traded at $36.75. Approximately 13,608,808 shares were traded during trading, a decline of 76% from the average daily volume of 57,202,414 shares. The stock had previously closed at $36.84.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. Jefferies Financial Group raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Argus started coverage on Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Citigroup increased their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Five 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, Palantir Technologies has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Performance

The company has a market cap of $81.72 billion, a P/E ratio of 304.11 and a beta of 2.72. The firm’s fifty day moving average is $31.76 and its two-hundred day moving average is $26.51.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to the consensus estimate 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 was up 27.2% on a year-over-year basis. During the same period last year, the company earned $0.01 EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the sale, the director now directly owns 145,625 shares in the company, valued at $5,558,506.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the sale, the director now directly owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,814,881 shares of company stock valued at $648,616,023. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. SG Americas Securities LLC lifted its holdings in Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after buying an additional 102,479 shares during the period. Accel Wealth Management bought a new stake in Palantir Technologies during the 1st quarter valued at $360,000. ProShare Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at $262,000. Finally, OneAscent Wealth Management LLC bought a new position in shares of Palantir Technologies in the 1st quarter worth $210,000. 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.