Palantir Technologies (NASDAQ:PLTR) Shares Down 1.7% - Here's What Happened

Key Points

• Palantir Technologies' shares dropped by 1.7%, trading as low as $158.20 during the session with volume down by 72% from the average.
• Analysts have mixed ratings for Palantir, with four Buy ratings, sixteen Hold ratings, and two Sell ratings, alongside a consensus price target of $136.61.
• In its latest earnings report, Palantir exceeded expectations with a $0.16 EPS and a 48% year-over-year revenue increase, reporting $1 billion in revenue for the quarter.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price traded down 1.7% on Wednesday . The stock traded as low as $158.20 and last traded at $158.12. 26,035,485 shares were traded during mid-day trading, a decline of 72% from the average session volume of 91,717,094 shares. The stock had previously closed at $160.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLTR shares. UBS Group restated a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Finally, Bank of America lifted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Performance

The stock has a fifty day simple moving average of $154.37 and a two-hundred day simple moving average of $122.57. The stock has a market cap of $374.48 billion, a PE ratio of 526.97, a PEG ratio of 8.86 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 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the business posted $0.09 EPS. The firm'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, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,906,783 shares of company stock worth $282,471,442. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the period. State Street Corp raised its holdings in shares of Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock valued at $12,879,667,000 after purchasing an additional 6,097,629 shares in the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies in the second quarter worth about $3,307,457,000. Invesco Ltd. raised its position in shares of Palantir Technologies by 16.0% in the second quarter. Invesco Ltd. now owns 20,585,256 shares of the company's stock valued at $2,806,182,000 after purchasing an additional 2,838,300 shares during the period. Finally, Northern Trust Corp increased its position in Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after acquiring an additional 64,973 shares during the period. 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.

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