Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% - Time to Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) were down 1.7% on Tuesday . The company traded as low as $136.30 and last traded at $136.75. Approximately 22,044,422 shares changed hands during trading, a decline of 73% from the average daily volume of 82,779,374 shares. The stock had previously closed at $139.12.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PLTR shares. Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies 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 report on Tuesday, May 6th. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Mizuho lifted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Down 0.1%

The company has a market capitalization of $328.15 billion, a P/E ratio of 604.57, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59. The business has a fifty day moving average price of $128.96 and a 200 day moving average price of $102.29.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares of the company's stock, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of the business. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new stake in Palantir Technologies in the first quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC grew its position in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

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.

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