Palantir Technologies (NASDAQ:PLTR) Trading Down 3.3% - Time to Sell?

Key Points

• Palantir Technologies shares fell by 3.3%, trading as low as $169.42 and closing at $175.49, with a trading volume that was 32% below the average.
• Analysts have mixed opinions on the stock, with five rating it as a Buy, while the average consensus is a Hold with a target price of $141.28.
• Insiders have sold a significant number of shares recently, with one insider's sale resulting in a 15.82% decrease in their ownership stake.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price dropped 3.3% during mid-day trading on Wednesday . The company traded as low as $169.42 and last traded at $175.49. Approximately 57,701,043 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 84,613,508 shares. The stock had previously closed at $181.51.

Analyst Ratings Changes

PLTR has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Bank of America boosted their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.28.

Palantir Technologies Trading Down 3.3%

The company has a market capitalization of $416.32 billion, a price-to-earnings ratio of 584.99, a PEG ratio of 9.84 and a beta of 2.60. The firm's 50 day simple moving average is $171.39 and its 200-day simple moving average is $144.68.

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, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock worth $239,713,896 in the last 90 days. Insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Financial Consulate Inc. purchased a new position in shares of Palantir Technologies during the 3rd quarter worth about $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter worth about $31,000. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Briaud Financial Planning Inc purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $27,000. 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.

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