Palantir Technologies (NASDAQ:PLTR) Shares Down 0.5% – Here’s Why

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

Analysts Set New Price Targets

A number of research firms recently commented on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Down 1.6 %

The company has a fifty day simple moving average of $62.94 and a 200-day simple moving average of $42.55. The firm has a market cap of $172.97 billion, a P/E ratio of 379.67, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results 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 the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. The trade was a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,180,723 shares of company stock valued at $1,408,957,941 in the last ninety days. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PLTR. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.