Palantir Technologies (NASDAQ:PLTR) Trading Down 2.2% - Time to Sell?

Key Points

• Palantir Technologies stock experienced a 2.2% decrease in trading on Friday, closing at $177.03 after trading as low as $173.38.
• The company reported a quarterly earnings of $0.16 per share, exceeding analysts' estimates, with revenue up 48% year-over-year at $1 billion.
• Analyst ratings for Palantir are predominantly neutral, with 17 hold ratings, 2 sell ratings, and 5 buy ratings, suggesting a consensus target price of $136.61.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price fell 2.2% during trading on Friday . The company traded as low as $173.38 and last traded at $177.03. 30,503,188 shares were traded during mid-day trading, a decline of 66% from the average session volume of 90,976,164 shares. The stock had previously closed at $181.02.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. UBS Group restated a "neutral" rating and issued a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Down 2.1%

The company has a market cap of $418.27 billion, a PE ratio of 590.51, a price-to-earnings-growth ratio of 10.39 and a beta of 2.60. The stock has a fifty day simple moving average of $150.04 and a two-hundred day simple moving average of $118.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 10.75% and a net margin of 22.18%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the sale, the insider owned 363,755 shares of the company's stock, valued at $63,657,125. The trade was a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock valued at $196,472,623 in the last quarter. Insiders own 9.23% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Accuvest Global Advisors increased its stake in Palantir Technologies by 0.7% during the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company's stock worth $1,232,000 after buying an additional 63 shares during the period. Ignite Planners LLC increased its stake in Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after buying an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its position in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after acquiring an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after acquiring an additional 73 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its position in shares of Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock worth $379,000 after acquiring an additional 73 shares during 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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