Palantir Technologies (NASDAQ:PLTR) Shares Down 7.4% - Time to Sell?

Key Points

• Palantir Technologies (NASDAQ:PLTR) shares fell by 7.4% to $146.08, trading volume decreased by 6% compared to the average volume.
• Despite the drop in stock price, several analysts including Morgan Stanley and Bank of America have issued target prices ranging from $155.00 to $182.00 with a general consensus rating of "Hold".
• Palantir reported a 48% increase in revenue year-over-year for the previous quarter, with earnings per share at $0.16, surpassing estimates.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares traded down 7.4% during trading on Wednesday . The company traded as low as $142.41 and last traded at $146.08. 85,949,640 shares changed hands during trading, a decline of 6% from the average session volume of 91,146,578 shares. The stock had previously closed at $157.75.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies Stock Performance

The stock has a market cap of $365.37 billion, a PE ratio of 511.47, a P/E/G ratio of 9.81 and a beta of 2.60. The business's fifty day moving average price is $152.36 and its 200-day moving average price is $120.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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 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 business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 17,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the sale, the director owned 12,562 shares in the company, valued at approximately $1,624,140.98. This represents a 57.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 529,684 shares of company stock worth $71,900,350 in the last 90 days. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies during the 1st quarter worth about $25,000. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $27,000. Finally, Briaud Financial Planning Inc acquired a new position in Palantir Technologies in the second quarter valued at approximately $27,000. 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.

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