Palantir Technologies Inc. (PLTR) – Don’t Be So Quick to Call it Dead

178 institutions hold shares in Palantir Technologies Inc. (PLTR), with 230M shares held by insiders accounting for 13.04% while institutional investors hold 14.41% of the company’s shares. The shares outstanding are 1.65B, and float is at 1.06B with Short Float at 5.75%. Institutions hold 12.53% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 33.35 million shares valued at $785.41 million. The investor’s holdings represent 2.27% of the PLTR Shares outstanding. As of Sep 29, 2020, the second largest holder is Point72 Asset Management, L.P. with 29.9 million shares valued at $284.09 million to account for 2.03% of the shares outstanding. The other top investors are Canada Pension Plan Investment Board which holds 24.16 million shares representing 1.64% and valued at over $229.49 million, while Soros Fund Management LLC holds 1.25% of the shares totaling 18.46 million with a market value of $175.35 million.

Palantir Technologies Inc. (NYSE: PLTR) is 23.14% higher on its value in year-to-date trading and has touched a low of $8.90 and a high of $45.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PLTR stock was last observed hovering at around $25.17 in the last trading session, with the day’s gains setting it 3.83% off its average median price target of $23.50 for the next 12 months. It is also 27.5% off the consensus price target high of $40.00 offered by 8 analysts, but current levels are -93.33% lower than the price target low of $15.00 for the same period.

Currently trading at $29.00, the stock is -11.84% and 0.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 320.06 million and changing 15.22% at the moment leaves the stock 33.00% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $29.99 and a 200-day simple moving average (SMA200) of $21.88.

The stock witnessed a 10.10% In the last 1 monthand extending the period to 3 months gives it a 62.46%, and is -12.41% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.55% over the week and 13.14% over the month.

Palantir Technologies Inc. (PLTR) has around 2464 employees, a market worth around $43.85B and $939.90M in sales. Fwd P/E is 140.10. Distance from 52-week low is 225.84% and -35.56% from its 52-week high. The company has generated returns on investments over the last 12 months (37.20%).

Palantir Technologies Inc. (PLTR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Palantir Technologies Inc. (PLTR) is a “Underweight”. 8 analysts offering their recommendations for the stock have an average rating of 3.40, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 4 analysts have rated the stock as a Sell or Underperform.

Palantir Technologies Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $332.26M over the same period.The EPS is expected to grow by 7.70% this year, but quarterly earnings will post 35.20% year-over-year.

Palantir Technologies Inc. (PLTR) Insider Activity

A total of 115 insider transactions have happened at Palantir Technologies Inc. (PLTR) in the last six months, with sales accounting for 82 and purchases happening 33 times. The most recent transaction is an insider sale by THIEL PETER, the company’s Director. SEC filings show that THIEL PETER sold 20,003,915 shares of the company’s common stock on Feb 18 at a price of $25.23 per share for a total of $504.78 million. Following the sale, the insider now owns 0.0 shares.

Palantir Technologies Inc. disclosed in a document filed with the SEC on Feb 02 that Karp Alexander C. sold a total of 1,285,123 shares of the company’s common stock. The trade occurred on Feb 02 and was made at $31.59 per share for $40.6 million. Following the transaction, the insider now directly holds 6.43 million shares of the PLTR stock.

Still, SEC filings show that on Jan 04, Karp Alexander C. disposed off 1,285,123 shares at an average price of $23.56 for $30.28 million. The insider now directly holds 6,426,496 shares of Palantir Technologies Inc. (PLTR).

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