Palantir Technologies (NASDAQ:PLTR) Trading Down 4.9% - Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price traded down 4.9% during trading on Friday . The stock traded as low as $137.72 and last traded at $137.22. 42,209,213 shares were traded during mid-day trading, a decline of 48% from the average session volume of 81,458,398 shares. The stock had previously closed at $144.25.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLTR shares. DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley raised their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Citigroup raised their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Down 3.2%

The company has a market capitalization of $329.46 billion, a price-to-earnings ratio of 602.76, a P/E/G ratio of 12.20 and a beta of 2.64. The stock has a 50 day simple moving average of $124.50 and a 200 day simple moving average of $99.02.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. Company insiders own 9.23% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $6,568,000. Swedbank AB grew its holdings in Palantir Technologies by 109.2% during the first quarter. Swedbank AB now owns 870,994 shares of the company's stock worth $73,512,000 after acquiring an additional 454,610 shares during the period. Voya Investment Management LLC grew its holdings in Palantir Technologies by 6.9% during the first quarter. Voya Investment Management LLC now owns 6,124,866 shares of the company's stock worth $516,783,000 after acquiring an additional 394,796 shares during the period. Optima Capital LLC raised its position in Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after acquiring an additional 81 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at about $37,000. 45.65% of the stock is currently owned by 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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