Palantir Technologies (NASDAQ:PLTR) Shares Down 5.1% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price fell 5.1% on Monday . The stock traded as low as $72.67 and last traded at $74.94. 33,901,384 shares were traded during mid-day trading, a decline of 50% from the average session volume of 68,133,906 shares. The stock had previously closed at $78.98.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Wedbush upped their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America lifted their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Performance

The stock has a 50 day moving average of $71.96 and a two-hundred day moving average of $49.18. The firm has a market capitalization of $168.05 billion, a P/E ratio of 368.88, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (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 the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Activity

In other Palantir Technologies 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 sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the company. Hager Investment Management Services LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $5,327,000. Stratos Wealth Partners LTD. increased its holdings in Palantir Technologies by 9.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 185,861 shares of the company’s stock valued at $14,057,000 after buying an additional 15,362 shares during the period. Retirement Systems of Alabama raised its stake in shares of Palantir Technologies by 0.8% in the 4th quarter. Retirement Systems of Alabama now owns 443,805 shares of the company’s stock valued at $33,565,000 after buying an additional 3,687 shares in the last quarter. Silverlake Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 6.1% during the 4th quarter. Silverlake Wealth Management LLC now owns 5,836 shares of the company’s stock worth $441,000 after acquiring an additional 338 shares during the period. Finally, Old North State Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $216,000. 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.