Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2.5% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 2.5% on Thursday . The company traded as low as $66.51 and last traded at $68.23. 91,110,504 shares traded hands during trading, an increase of 8% from the average session volume of 84,501,508 shares. The stock had previously closed at $69.99.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLTR shares. Bank of America boosted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.12.

Palantir Technologies Stock Down 1.4 %

The stock has a fifty day simple moving average of $68.93 and a 200-day simple moving average of $45.68. The company has a market capitalization of $153.22 billion, a P/E ratio of 336.32, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. Analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

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

About Palantir Technologies

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.