Palantir Technologies (NASDAQ:PLTR) Shares Down 1.1% - What's Next?

Key Points

• Palantir Technologies' stock fell by 1.1%, trading at $184.86, with a significant decline in trading volume—about 77% lower than the average daily volume.
• Recent analyst ratings show a mix of opinions, with Goldman Sachs raising their target price to $141.00 while others set diverse targets ranging from $45.00 to $200.00.
• Palantir reported earnings of $0.16 per share for the last quarter, exceeding expectations, with a 48% year-over-year revenue increase.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) dropped 1.1% during trading on Wednesday . The stock traded as low as $184.68 and last traded at $184.86. Approximately 20,678,494 shares traded hands during trading, a decline of 77% from the average daily volume of 91,413,633 shares. The stock had previously closed at $186.97.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group reissued a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Royal Bank Of Canada upped their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Down 1.1%

The business has a 50-day moving average price of $147.73 and a two-hundred day moving average price of $117.34. The firm has a market cap of $436.37 billion, a PE ratio of 615.39, a price-to-earnings-growth ratio of 10.30 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,515,632 shares of company stock worth $196,472,623. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $450,000. Townsquare Capital LLC raised its stake in Palantir Technologies by 29.3% during the fourth quarter. Townsquare Capital LLC now owns 49,157 shares of the company's stock worth $3,718,000 after acquiring an additional 11,151 shares during the period. Synovus Financial Corp raised its stake in Palantir Technologies by 16.4% during the fourth quarter. Synovus Financial Corp now owns 20,830 shares of the company's stock worth $1,575,000 after acquiring an additional 2,932 shares during the period. SageView Advisory Group LLC acquired a new stake in Palantir Technologies during the fourth quarter worth about $459,000. Finally, Mariner LLC raised its stake in Palantir Technologies by 22.1% during the fourth quarter. Mariner LLC now owns 610,598 shares of the company's stock worth $46,181,000 after acquiring an additional 110,419 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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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