Palantir Technologies (NASDAQ:PLTR) Stock Price Down 3.2% - Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) was down 3.2% during trading on Monday . The company traded as low as $124.32 and last traded at $125.43. Approximately 31,278,936 shares changed hands during trading, a decline of 59% from the average daily volume of 76,865,818 shares. The stock had previously closed at $129.52.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Price Performance

The stock has a market cap of $296.31 billion, a PE ratio of 664.98, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business has a fifty day moving average of $98.72 and a 200-day moving average of $85.43.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the company posted $0.08 EPS. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. This represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $64,958,509.98. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 over the last three months. 9.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. Nuveen LLC purchased a new stake in Palantir Technologies during the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD boosted its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. 45.65% of the stock is currently 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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