Palantir Technologies (NASDAQ:PLTR) Trading Down 3% – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) fell 3% during mid-day trading on Tuesday . The company traded as low as $71.70 and last traded at $73.49. 29,583,064 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 60,109,707 shares. The stock had previously closed at $75.75.

Analyst Ratings Changes

A number of brokerages have recently commented on PLTR. Mizuho increased their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. 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. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Up 3.8 %

The company has a market cap of $169.05 billion, a P/E ratio of 371.07, a P/E/G ratio of 10.18 and a beta of 2.87. The business has a fifty day simple moving average of $57.71 and a two-hundred day simple moving average of $39.61.

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

Insider Activity

In related news, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the transaction, the director now directly owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. This represents a 7.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the transaction, the director now directly owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,612,366 shares of company stock worth $1,867,342,292 in the last three months. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp boosted its holdings in shares of Palantir Technologies by 4.1% in the 2nd quarter. Fifth Third Bancorp now owns 71,491 shares of the company’s stock worth $1,811,000 after purchasing an additional 2,805 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Palantir Technologies during the second quarter worth $209,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Palantir Technologies during the second quarter valued at $277,000. Premier Path Wealth Partners LLC increased its position in Palantir Technologies by 8.3% during the second quarter. Premier Path Wealth Partners LLC now owns 14,948 shares of the company’s stock valued at $379,000 after acquiring an additional 1,148 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of Palantir Technologies by 6.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 16,073 shares of the company’s stock worth $407,000 after acquiring an additional 912 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.