Palantir Technologies (NYSE:PLTR) Stock Price Down 3.5%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price fell 3.5% on Wednesday . The stock traded as low as $27.54 and last traded at $27.79. 14,679,502 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 55,213,000 shares. The stock had previously closed at $28.81.

Analyst Ratings Changes

A number of research firms have recently commented on PLTR. Argus started coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Royal Bank of Canada raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, May 7th. Finally, Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Seven research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.32.

Palantir Technologies Price Performance

The stock has a market cap of $59.30 billion, a price-to-earnings ratio of 221.98, a price-to-earnings-growth ratio of 6.14 and a beta of 2.71. The firm’s fifty day moving average price is $24.75 and its two-hundred day moving average price is $22.83.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Insiders sold a total of 11,467,179 shares of company stock worth $242,726,313 over the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of the stock. Pursue Wealth Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter worth $1,741,000. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after buying an additional 116,220 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after buying an additional 102,479 shares in the last quarter. Finally, Accel Wealth Management bought a new position in Palantir Technologies in the 1st quarter worth approximately $360,000. Hedge funds and other 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.