Palantir Technologies (NYSE:PLTR) Shares Gap Down to $25.21

Palantir Technologies Inc. (NYSE:PLTR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.21, but opened at $21.99. Palantir Technologies shares last traded at $21.88, with a volume of 36,184,452 shares traded.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Citigroup lifted their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday. Bank of America raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada increased their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, HSBC lifted their price target on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Stock Down 1.9 %

The stock has a market capitalization of $46.78 billion, a P/E ratio of 237.47, a PEG ratio of 5.72 and a beta of 2.76. The firm has a 50-day moving average of $23.28 and a 200 day moving average of $20.36.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders sold a total of 7,206,273 shares of company stock worth $178,543,602 over the last quarter. Company insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of PLTR. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares during the last quarter. Morgan Stanley grew its holdings in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its position in Palantir Technologies by 314.7% in the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after acquiring an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Palantir Technologies in the third quarter worth about $55,719,000. Finally, International Assets Investment Management LLC lifted its position in shares of Palantir Technologies by 1,784.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after purchasing an additional 2,742,071 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.