Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.5% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares dropped 0.5% during trading on Monday . The stock traded as low as $78.47 and last traded at $82.08. Approximately 31,638,560 shares were traded during trading, a decline of 53% from the average daily volume of 66,695,633 shares. The stock had previously closed at $82.49.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. 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 research report on Friday, December 13th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, DA Davidson boosted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.61.

Palantir Technologies Price Performance

The firm’s 50 day simple moving average is $73.71 and its 200-day simple moving average is $51.00. The company has a market cap of $189.94 billion, a price-to-earnings ratio of 417.15, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity

In related news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of PLTR. Tritonpoint Wealth LLC lifted its position in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the period. Kennebec Savings Bank lifted its holdings in shares of Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares during the period. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. RMR Wealth Builders raised its position in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares in the last quarter. Finally, Bay Rivers Group lifted its holdings in Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.