Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.1% - Here's Why

Key Points

• Palantir Technologies' stock price decreased by 1.1%, trading at $168.33, with a significant drop in trading volume of 23% compared to its average session.
• Analysts have varied opinions on Palantir, with target prices ranging from $110.00 to $182.00 and a consensus rating of "Hold".
• Insider sales amounted to over $248 million in the last quarter, reflecting a notable decrease in ownership stakes among company insiders.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price traded down 1.1% during trading on Wednesday . The stock traded as low as $161.27 and last traded at $168.33. 68,830,822 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 89,206,094 shares. The stock had previously closed at $170.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Loop Capital boosted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $138.28.

Palantir Technologies Price Performance

The firm's 50 day moving average price is $161.32 and its 200-day moving average price is $128.32. The stock has a market cap of $399.34 billion, a P/E ratio of 561.12, a P/E/G ratio of 9.65 and a beta of 2.59.

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

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 375,000 shares of the business'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 of the company's stock, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,625,634 shares of company stock valued at $248,926,404. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Palantir Technologies by 274.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,730 shares of the company's stock valued at $372,000 after purchasing an additional 2,000 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 15.3% during the second quarter. Valeo Financial Advisors LLC now owns 53,395 shares of the company's stock valued at $7,279,000 after purchasing an additional 7,071 shares during the last quarter. Silicon Valley Capital Partners raised its holdings in shares of Palantir Technologies by 1,578.9% during the second quarter. Silicon Valley Capital Partners now owns 1,595 shares of the company's stock valued at $217,000 after purchasing an additional 1,500 shares during the last quarter. NWF Advisory Services Inc. raised its holdings in shares of Palantir Technologies by 556.6% during the second quarter. NWF Advisory Services Inc. now owns 16,783 shares of the company's stock valued at $2,288,000 after purchasing an additional 14,227 shares during the last quarter. Finally, V. M. Manning & CO. Inc. purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $546,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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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