Palantir Technologies (NASDAQ:PLTR) Trading Down 1.1% - Time to Sell?

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 dropped 1.1% during trading on Wednesday . The company traded as low as $161.27 and last traded at $168.33. Approximately 68,830,822 shares were traded during trading, a decline of 23% from the average daily volume of 89,206,094 shares. The stock had previously closed at $170.26.

Wall Street Analyst Weigh In

A number of analysts have commented on PLTR shares. The Goldman Sachs Group upped their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. UBS Group reissued a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Bank of America raised their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $138.28.

Palantir Technologies Trading Up 3.1%

The firm has a market capitalization of $432.69 billion, a price-to-earnings ratio of 607.99, a PEG ratio of 9.97 and a beta of 2.59. The company has a fifty day moving average price of $163.32 and a two-hundred day moving average price of $129.92.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS 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 analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the sale, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock worth $248,926,404 in the last three months. 9.23% 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 added to or reduced their stakes in the stock. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Briaud Financial Planning Inc acquired a new stake in Palantir Technologies in the second quarter worth $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of Palantir Technologies during the second quarter worth about $27,000. Frazier Financial Advisors LLC acquired a new position in Palantir Technologies during the second quarter valued at approximately $28,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Palantir Technologies during the second quarter worth approximately $29,000. Hedge funds and other institutional investors 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.