Palantir Technologies (NASDAQ:PLTR) Trading Down 3.3% - Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price was down 3.3% on Wednesday . The stock traded as low as $125.58 and last traded at $128.81. Approximately 47,720,196 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 79,086,253 shares. The stock had previously closed at $133.17.

Analyst Ratings Changes

A number of analysts have commented on PLTR shares. Loop Capital boosted their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. DA Davidson boosted their target price 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. Morgan Stanley lifted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Stock Down 7.8%

The business has a 50-day simple moving average of $108.44 and a two-hundred day simple moving average of $91.31. The stock has a market capitalization of $282.98 billion, a P/E ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. The business's revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now owns 592 shares of the company's stock, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Buckley sold 1,708 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares in the company, valued at $4,356,410.52. This trade represents a 4.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the first quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter worth about $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies during the first quarter worth about $27,000. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth about $27,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares in the last quarter. 45.65% of the stock is currently owned by 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.