Palantir Technologies (NYSE:PLTR) Shares Down 0.2% - What's Next?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s stock price fell 0.2% during trading on Tuesday . The stock traded as low as $44.04 and last traded at $44.90. 10,876,975 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 56,248,512 shares. The stock had previously closed at $44.97.

Analyst Ratings Changes

Several research firms have commented on PLTR. Northland Securities began coverage on Palantir Technologies in a research report on Thursday, August 22nd. They issued a "market perform" rating and a $35.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research report on Tuesday, August 6th. Citigroup lifted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Finally, Mizuho lifted their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an "underperform" rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.86.

Palantir Technologies Stock Down 0.0 %

The firm has a market capitalization of $100.67 billion, a price-to-earnings ratio of 264.24 and a beta of 2.72. The stock has a 50 day moving average of $37.11 and a 200 day moving average of $29.02.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business's revenue was up 27.2% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the transaction, the insider now owns 562,006 shares of the company's stock, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 over the last ninety days. Company insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the third quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter worth approximately $25,000. Creekmur Asset Management LLC raised its holdings in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock worth $40,000 after purchasing an additional 335 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the second quarter worth approximately $30,000. 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.