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

Key Points

• Palantir Technologies shares gapped down to $152.30 from a previous close of $157.75, with the stock last trading at $146.22 and a high trading volume of over 53 million shares.
• Multiple analysts have issued upgrades and downgrades, with price targets ranging significantly from a low of $40.00 to a high of $200.00, and the stock currently has an average rating of "Hold."
• In insider trading, Ryan D. Taylor sold 30,000 shares for $5.25 million, representing a 7.62% decrease in ownership, amidst broader marketplace activity where insiders sold over 529,000 shares recently.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $157.75, but opened at $152.30. Palantir Technologies shares last traded at $146.22, with a volume of 53,135,188 shares traded.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. Royal Bank Of Canada increased their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. 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 report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

The company has a market capitalization of $364.82 billion, a price-to-earnings ratio of 509.48, a PEG ratio of 9.81 and a beta of 2.60. The stock has a 50-day moving average price of $152.36 and a 200-day moving average price of $120.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period last year, the firm posted $0.09 earnings per share. The business's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities 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 Ryan D. Taylor sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider owned 363,755 shares in the company, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the 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 transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 529,684 shares of company stock valued at $71,900,350. Corporate insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently made changes to their positions in the company. Accuvest Global Advisors increased its stake in shares of Palantir Technologies by 0.7% during the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company's stock worth $1,232,000 after purchasing an additional 63 shares during the period. Ignite Planners LLC increased its stake in Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after acquiring an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its stake in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after acquiring an additional 73 shares during the period. Finally, Boomfish Wealth Group LLC increased its stake in Palantir Technologies by 2.7% during the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock worth $379,000 after acquiring an additional 73 shares during the period. 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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