Palantir Technologies (NYSE:PLTR) Stock Price Down 1.9%

Palantir Technologies Inc. (NYSE:PLTR) shares traded down 1.9% during trading on Monday . The stock traded as low as $30.79 and last traded at $31.17. 16,831,748 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 55,012,832 shares. The stock had previously closed at $31.78.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup lifted 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. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Raymond James increased their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday. They issued a “market perform” rating and a $35.00 price objective for the company. Finally, HSBC upped their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $23.93.

Palantir Technologies Trading Down 2.9 %

The company’s 50-day moving average is $27.65 and its 200 day moving average is $24.66. The stock has a market capitalization of $68.70 billion, a PE ratio of 257.00, a price-to-earnings-growth ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $23.32, for a total transaction of $606,320.00. Following the completion of the transaction, the director now directly owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total value of $72,720.00. Following the sale, the director now directly owns 35,843 shares of the company’s stock, valued at $868,834.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the transaction, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 714,648 shares of company stock worth $21,567,539. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $25,000. West Paces Advisors Inc. grew its stake in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.