Palantir Technologies (NYSE:PLTR) Shares Gap Down to $25.56

Shares of Palantir Technologies Inc. (NYSE:PLTRGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $25.56, but opened at $24.71. Palantir Technologies shares last traded at $24.46, with a volume of 7,971,954 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLTR shares. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a report on Friday. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $21.25.

Check Out Our Latest Report on Palantir Technologies

Palantir Technologies Price Performance

The company’s fifty day simple moving average is $22.21 and its 200-day simple moving average is $21.17. The firm has a market capitalization of $54.14 billion, a PE ratio of 201.52, a price-to-earnings-growth ratio of 5.96 and a beta of 2.70.

Palantir Technologies (NYSE:PLTRGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,374,153 shares of company stock worth $239,976,945. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Kestra Advisory Services LLC lifted its position in Palantir Technologies by 33.3% during the third quarter. Kestra Advisory Services LLC now owns 93,013 shares of the company’s stock valued at $1,488,000 after purchasing an additional 23,244 shares during the period. Korea Investment CORP lifted its position in Palantir Technologies by 148.4% during the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock valued at $3,103,000 after purchasing an additional 115,876 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Palantir Technologies during the third quarter valued at $271,000. Visionary Wealth Advisors acquired a new position in Palantir Technologies during the third quarter valued at $171,000. Finally, Mariner LLC lifted its position in Palantir Technologies by 28.2% during the third quarter. Mariner LLC now owns 252,715 shares of the company’s stock valued at $4,043,000 after purchasing an additional 55,626 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

(Get Free Report)

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.

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