Palantir Technologies (NASDAQ:PLTR) Trading Down 3.6% – Here’s Why

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) dropped 3.6% during trading on Wednesday . The stock traded as low as $99.75 and last traded at $100.07. Approximately 33,439,100 shares were traded during trading, a decline of 56% from the average daily volume of 76,655,594 shares. The stock had previously closed at $103.83.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush boosted their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. UBS Group upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

The firm has a 50-day simple moving average of $76.46 and a two-hundred day simple moving average of $52.67. The company has a market capitalization of $252.52 billion, a price-to-earnings ratio of 554.28, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the firm posted $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds 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.