Palantir Technologies (NYSE:PLTR) Stock Price Down 2.5% - Should You Sell?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s share price was down 2.5% during trading on Monday . The stock traded as low as $73.80 and last traded at $74.45. Approximately 76,957,812 shares changed hands during trading, an increase of 30% from the average daily volume of 59,093,008 shares. The stock had previously closed at $76.34.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the stock an "underperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group cut Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a report on Monday, November 25th. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. Finally, Raymond James cut shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $35.64.

Palantir Technologies Trading Down 4.2 %

The stock has a market cap of $166.61 billion, a P/E ratio of 372.27, a PEG ratio of 10.29 and a beta of 2.87. The company has a 50 day simple moving average of $52.25 and a 200 day simple moving average of $36.80.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm's revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the transaction, the insider now owns 331,369 shares of the company's stock, valued at $11,604,542.38. This trade represents a 31.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,397,131 shares of company stock valued at $1,971,713,059. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after buying an additional 808,444 shares during the period. ARK Investment Management LLC grew its stake in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company's stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Finally, FMR LLC raised its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company's stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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