Palantir Technologies (NASDAQ:PLTR) Trading Down 0.5% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 0.5% on Tuesday . The company traded as low as $75.67 and last traded at $76.80. 20,001,207 shares were traded during trading, a decline of 68% from the average session volume of 61,553,973 shares. The stock had previously closed at $77.18.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. UBS Group initiated coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Mizuho lifted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Stock Down 2.0 %

The stock has a market capitalization of $172.29 billion, a PE ratio of 378.17, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The company’s fifty day moving average price is $64.29 and its 200-day moving average price is $43.29.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The company’s revenue was up 30.0% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,180,723 shares of company stock worth $1,408,957,941 over the last quarter. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. State of Alaska Department of Revenue raised its stake in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management boosted its position in shares of Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies in the third quarter worth approximately $639,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.