Palantir Technologies (NYSE:PLTR) Stock Price Down 0.2% – Here’s What Happened

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 0.2% during trading on Friday . The stock traded as low as $72.92 and last traded at $73.03. Approximately 27,363,298 shares changed hands during trading, a decline of 54% from the average daily volume of 59,753,473 shares. The stock had previously closed at $73.20.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday. Bank of America raised their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $38.40.

Palantir Technologies Price Performance

The company’s 50-day simple moving average is $55.02 and its 200-day simple moving average is $38.01. The company has a market cap of $169.42 billion, a price-to-earnings ratio of 369.15, a P/E/G ratio of 9.70 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’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 $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,252,313 shares of company stock valued at $1,967,089,241 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.