Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% - Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares traded down 1.7% on Friday . The stock traded as low as $116.08 and last traded at $117.17. 33,872,747 shares were traded during mid-day trading, a decline of 55% from the average session volume of 75,613,008 shares. The stock had previously closed at $119.15.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Finally, Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Down 1.5 %

The stock has a fifty day moving average of $94.23 and a 200-day moving average of $82.26. The firm has a market capitalization of $275.25 billion, a P/E ratio of 617.72, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the company earned $0.08 earnings per share. The firm's revenue was up 39.4% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,978,181 shares of company stock worth $252,115,667. Corporate insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of Palantir Technologies by 102.3% during the third quarter. Franklin Resources Inc. now owns 171,653 shares of the company's stock valued at $6,385,000 after acquiring an additional 86,793 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock worth $105,636,000 after acquiring an additional 1,969,213 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $237,000. ST Germain D J Co. Inc. boosted its stake in shares of Palantir Technologies by 4.4% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company's stock valued at $362,000 after purchasing an additional 200 shares during the last quarter. Finally, Hilltop National Bank grew its holdings in Palantir Technologies by 13.6% during the 4th quarter. Hilltop National Bank now owns 2,760 shares of the company's stock worth $209,000 after acquiring an additional 330 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

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.