Palantir Technologies (NASDAQ:PLTR) Shares Down 1.3% - Here's Why

Key Points

• Palantir Technologies' stock fell 1.3% trading at $156.14, with a significant decrease in trading volume of approximately 81% from the average.
• Recent analyst ratings show upgrades from various firms, with Deutsche Bank raising its price target from $80.00 to $160.00 and Bank of America setting it at $180.00, indicating a generally positive outlook.
• Palantir reported quarterly earnings that exceeded expectations, with $1 billion in revenue, and raised its full-year EPS guidance, highlighting a strong performance compared to the previous year.

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) dropped 1.3% during mid-day trading on Friday . The stock traded as low as $153.00 and last traded at $156.14. Approximately 17,615,812 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 91,367,305 shares. The stock had previously closed at $158.12.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Bank of America upped their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Price Performance

The stock has a fifty day moving average of $155.07 and a two-hundred day moving average of $123.10. The firm has a market capitalization of $372.40 billion, a price-to-earnings ratio of 523.19, a P/E/G ratio of 8.83 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period last year, the business posted $0.09 EPS. The business's revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 9,211 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $1,434,613.25. Following the completion of the sale, the insider directly owned 343,518 shares in the company, valued at approximately $53,502,928.50. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Buckley sold 1,076 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $167,587.00. Following the sale, the insider owned 53,764 shares of the company's stock, valued at approximately $8,373,743. The trade was a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,906,783 shares of company stock worth $282,471,442. 9.23% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Large investors have recently bought and sold shares of the business. Stark Wealth Management LLC bought a new position in shares of Palantir Technologies during the 2nd quarter worth about $584,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Palantir Technologies by 18.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 79,689 shares of the company's stock worth $10,863,000 after purchasing an additional 12,447 shares in the last quarter. Barnes Wealth Management Group Inc boosted its position in shares of Palantir Technologies by 7.5% during the 2nd quarter. Barnes Wealth Management Group Inc now owns 3,277 shares of the company's stock worth $447,000 after purchasing an additional 230 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in shares of Palantir Technologies by 10.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 105,062 shares of the company's stock worth $14,322,000 after purchasing an additional 10,090 shares in the last quarter. Finally, Zeit Capital LLC bought a new position in shares of Palantir Technologies during the 2nd quarter worth about $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.