Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) shares were down 1.7% during mid-day trading on Thursday . The stock traded as low as $72.42 and last traded at $74.32. Approximately 32,575,538 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 61,704,551 shares. The stock had previously closed at $75.63.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PLTR shares. 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 report on Thursday, November 7th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Six 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.00.
Palantir Technologies Trading Down 0.6 %
The stock’s fifty day moving average is $64.95 and its two-hundred day moving average is $43.52. The company has a market capitalization of $171.28 billion, a PE ratio of 375.97, a P/E/G ratio of 10.18 and a beta of 2.87.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.
Insider Transactions at Palantir Technologies
In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,180,723 shares of company stock worth $1,408,957,941. 12.93% of the stock is owned by company insiders.
Institutional Trading of Palantir Technologies
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC increased its stake in Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC raised its holdings in shares of Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Palantir Technologies by 2.4% during the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc boosted its position in shares of Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.
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.