Palantir Technologies (NASDAQ:PLTR) Shares Down 1.7% - Should You Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) were down 1.7% during trading on Thursday . The company traded as low as $140.52 and last traded at $140.76. Approximately 26,312,345 shares were traded during trading, a decline of 68% from the average daily volume of 82,852,200 shares. The stock had previously closed at $143.13.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a report on Thursday. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Morgan Stanley raised their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

The business's 50 day simple moving average is $130.45 and its 200-day simple moving average is $103.25. The stock has a market capitalization of $335.34 billion, a price-to-earnings ratio of 617.83, a price-to-earnings-growth ratio of 12.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm earned $0.08 EPS. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Arthur M. Cohen & Associates LLC increased its stake in shares of Palantir Technologies by 2.9% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 17,935 shares of the company's stock worth $2,445,000 after purchasing an additional 497 shares during the last quarter. Congress Park Capital LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $211,000. Ullmann Wealth Partners Group LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $285,000. Meriwether Wealth & Planning LLC increased its stake in shares of Palantir Technologies by 5.5% during the 2nd quarter. Meriwether Wealth & Planning LLC now owns 3,693 shares of the company's stock worth $503,000 after purchasing an additional 193 shares during the last quarter. Finally, TTP Investments Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $2,689,000. Institutional investors and hedge funds own 45.65% of the company's stock.

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.