Palantir Technologies (NASDAQ:PLTR) Shares Down 3.4% - What's Next?

Key Points

• Palantir Technologies shares fell by 3.4% to $164.49 amid trading with significantly reduced volume, indicating a possible decrease in investor interest.
• Multiple analysts have upgraded their ratings and price targets for Palantir, with Bank of America raising its target from $150 to $180 and Deutsche Bank upgrading from "sell" to "hold," suggesting a mixed outlook from the investment community.
• Palantir's recent earnings report indicated a 48% revenue increase year-over-year to $1 billion, alongside a net margin of 22.18% and an EPS of $0.16, outperforming expectations of $0.14.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price fell 3.4% during mid-day trading on Wednesday . The stock traded as low as $164.50 and last traded at $164.49. 17,718,097 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 88,895,977 shares. The stock had previously closed at $170.26.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Bank of America boosted their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $138.28.

Palantir Technologies Stock Down 0.8%

The firm has a market cap of $400.60 billion, a price-to-earnings ratio of 562.90, a PEG ratio of 9.65 and a beta of 2.59. The company's 50-day moving average price is $161.32 and its 200-day moving average price is $128.32.

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

Insider Buying and Selling

In other news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock valued at $248,926,404 over the last three months. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth $450,000. Bison Wealth LLC raised its stake in shares of Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth $274,000. Two Sigma Advisers LP acquired a new position in shares of Palantir Technologies during the 4th quarter worth $11,655,000. Finally, Two Sigma Investments LP raised its stake in shares of Palantir Technologies by 132.4% during the 4th quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after buying an additional 31,383 shares during the last quarter. 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.

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.