Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2.1% – Here’s What Happened

by · The Cerbat Gem

Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s share price was down 2.1% on Monday . The stock traded as low as $77.41 and last traded at $78.88. Approximately 41,313,232 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 61,474,996 shares. The stock had previously closed at $80.55.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday. They issued a “neutral” rating and a $80.00 price target for the company. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.00.

Read Our Latest Stock Analysis on Palantir Technologies

Palantir Technologies Price Performance

The business has a 50-day moving average of $59.06 and a 200 day moving average of $40.51. The company has a market cap of $183.15 billion, a PE ratio of 402.02, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for 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%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the completion of the transaction, the director now owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. This represents a 7.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,605,711 shares of company stock valued at $1,867,088,271. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTR. Principal Financial Group Inc. grew its holdings in Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Palantir Technologies by 26.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock valued at $8,116,000 after acquiring an additional 44,768 shares in the last quarter. Retirement Systems of Alabama bought a new stake in Palantir Technologies in the 3rd quarter valued at $16,372,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in Palantir Technologies in the 3rd quarter worth $631,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

(Get Free Report)

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.

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