Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.1% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded down 1.1% during trading on Tuesday . The stock traded as low as $130.46 and last traded at $130.59. 25,061,006 shares traded hands during trading, a decline of 69% from the average session volume of 79,836,337 shares. The stock had previously closed at $132.06.

Analyst Ratings Changes

A number of research firms recently weighed in on PLTR. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Mizuho lifted their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Citigroup upped their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $83.95.

Palantir Technologies Trading Down 0.1%

The stock has a market capitalization of $311.19 billion, a PE ratio of 691.78, a PEG ratio of 10.84 and a beta of 2.64. The firm’s 50-day moving average price is $110.90 and its 200-day moving average price is $93.06.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 30,812 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider now directly owns 495,497 shares of the company’s stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 39,825 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its position in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the period. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth about $1,360,191,000. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Finally, FMR LLC raised its stake in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Institutional investors 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.