Palantir Technologies (NASDAQ:PLTR) Shares Down 1.9% - Should You Sell?

Key Points

• Palantir Technologies shares fell by 1.9% on Monday, trading at $173.72, with a significant decline in trading volume of 70% compared to average session volume.
• While analysts maintain a consensus rating of "Hold" on the stock, price targets vary, with Loop Capital raising theirs to $180.00, while Morgan Stanley set it at $155.00.
• Palantir reported a revenue increase of 48% year-over-year in its recent quarterly earnings, surpassing analyst estimates with earnings per share of $0.16.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares traded down 1.9% on Monday . The stock traded as low as $171.80 and last traded at $173.72. 27,271,060 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 90,746,898 shares. The stock had previously closed at $177.17.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group boosted 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. Two investment 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's stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Down 2.3%

The firm's 50 day moving average is $151.03 and its 200-day moving average is $119.75. The firm has a market cap of $410.66 billion, a PE ratio of 577.33, a P/E/G ratio of 9.99 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. 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 revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies 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 transaction, the insider directly owned 492,079 shares in the company, 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. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 over the last ninety days. Insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the second quarter worth about $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new stake in Palantir Technologies in the second quarter valued at $2,543,888,000. Vanguard Group Inc. raised its holdings in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares in the last quarter. Nuveen LLC bought a new position in Palantir Technologies during the 1st quarter valued at $520,232,000. Finally, State Street Corp increased its position in shares of Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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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