Palantir Technologies (NYSE:PLTR) Shares Down 1.8%

Shares of Palantir Technologies Inc. (NYSE:PLTR) were down 1.8% during trading on Tuesday . The stock traded as low as $33.85 and last traded at $33.97. Approximately 32,614,781 shares were traded during trading, a decline of 40% from the average daily volume of 54,588,805 shares. The stock had previously closed at $34.60.

Analyst Ratings Changes

Several analysts recently weighed in on PLTR shares. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. DA Davidson upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Palantir Technologies in a report on Monday. Argus started coverage on shares of Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Performance

The stock’s fifty day simple moving average is $28.98 and its two-hundred day simple moving average is $25.19. The company has a market capitalization of $76.69 billion, a price-to-earnings ratio of 283.08, a P/E/G ratio of 5.35 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total transaction of $72,720.00. Following the sale, the director now owns 35,843 shares in the company, valued at approximately $868,834.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.24, for a total transaction of $72,720.00. Following the transaction, the director now directly owns 35,843 shares in the company, valued at approximately $868,834.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. Insiders have sold 701,649 shares of company stock worth $21,526,716 in the last three months. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. First United Bank & Trust acquired a new position in Palantir Technologies in the 4th quarter worth about $26,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.