Palantir Technologies (NASDAQ:PLTR) Trading Down 0.6% - Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) fell 0.6% during mid-day trading on Monday . The stock traded as low as $121.36 and last traded at $123.58. 37,783,102 shares traded hands during trading, a decline of 50% from the average session volume of 75,319,073 shares. The stock had previously closed at $124.28.

Analysts Set New Price Targets

Several analysts recently commented on PLTR shares. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Price Performance

The firm's fifty day simple moving average is $93.57 and its 200 day simple moving average is $81.48. The company has a market capitalization of $275.25 billion, a price-to-earnings ratio of 617.72, a PEG 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 for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,978,181 shares of company stock valued at $252,115,667. Company insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% during the 4th 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. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC lifted its stake in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position 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 acquiring an additional 4,221,392 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.