Palantir Technologies (NYSE:PLTR) Trading Down 0.3% – Here’s Why

Palantir Technologies Inc. (NYSE:PLTR) was down 0.3% during mid-day trading on Thursday . The stock traded as low as $41.73 and last traded at $41.82. Approximately 12,143,161 shares traded hands during trading, a decline of 79% from the average daily volume of 57,091,051 shares. The stock had previously closed at $41.93.

Analyst Ratings Changes

Several brokerages have recently commented on PLTR. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Mizuho increased their price objective on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research note on Thursday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Performance

The stock has a market cap of $96.18 billion, a P/E ratio of 252.66 and a beta of 2.72. The firm has a 50 day simple moving average of $35.60 and a two-hundred day simple moving average of $28.06.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the business earned $0.01 EPS. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction 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 sale, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the period. ARK Investment Management LLC lifted its position in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its stake in shares of Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after buying an additional 1,580,548 shares during the period. Hedge funds and other institutional investors 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.