Palantir Technologies (NYSE:PLTR) Stock Price Down 1.1%

Palantir Technologies Inc. (NYSE:PLTR) shares fell 1.1% on Monday . The company traded as low as $29.51 and last traded at $29.69. 36,288,820 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 55,528,902 shares. The stock had previously closed at $30.01.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Argus began coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Raymond James raised their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Finally, DA Davidson upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.14.

Palantir Technologies Trading Up 2.0 %

The business’s 50-day simple moving average is $26.29 and its two-hundred day simple moving average is $23.88. The company has a market capitalization of $69.01 billion, a PE ratio of 257.60, a PEG ratio of 5.29 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business 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 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 414,080 shares of company stock valued at $11,882,724. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after purchasing an additional 3,623,840 shares during the last quarter. Marshall Wace LLP boosted its position in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the period. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth $46,542,000. Finally, Coatue Management LLC increased its position in Palantir Technologies by 285.6% in the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after buying an additional 2,553,432 shares during the period. 45.65% of the stock is currently owned by 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.