Palantir Technologies (NASDAQ:PLTR) Shares Down 2.1% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 2.1% during trading on Monday . The company traded as low as $77.41 and last traded at $78.88. 41,313,232 shares were traded during trading, a decline of 33% from the average session volume of 61,474,996 shares. The stock had previously closed at $80.55.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Stock Performance

The stock has a market cap of $187.66 billion, a price-to-earnings ratio of 411.92, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The business’s 50 day moving average is $60.61 and its 200 day moving average is $41.33.

Palantir Technologies (NASDAQ:PLTR) last issued 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. The business 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%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Thiel sold 4,181,118 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the transaction, the director now directly owns 38,502,451 shares in the company, valued at approximately $1,421,125,466.41. The trade was a 9.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,351,045 shares of company stock valued at $1,710,644,202. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James Trust N.A. acquired a new position in Palantir Technologies during the second quarter worth $241,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Palantir Technologies by 34.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 15,396 shares of the company’s stock valued at $390,000 after acquiring an additional 3,966 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Palantir Technologies by 8.0% in the 2nd quarter. Harbour Investments Inc. now owns 38,147 shares of the company’s stock worth $966,000 after purchasing an additional 2,810 shares during the last quarter. Financial Advocates Investment Management boosted its position in Palantir Technologies by 2.0% during the second quarter. Financial Advocates Investment Management now owns 53,910 shares of the company’s stock worth $1,366,000 after purchasing an additional 1,044 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in Palantir Technologies by 141.0% during the second quarter. Arkadios Wealth Advisors now owns 105,584 shares of the company’s stock valued at $2,674,000 after purchasing an additional 61,775 shares during the last quarter. Institutional investors and hedge funds 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.