Palantir Technologies (NASDAQ:PLTR) Trading Down 1.7% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 1.7% during trading on Thursday . The company traded as low as $72.42 and last traded at $74.32. 32,575,538 shares were traded during trading, a decline of 47% from the average session volume of 61,704,551 shares. The stock had previously closed at $75.63.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Mizuho increased their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Robert W. Baird began coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Stock Performance

The stock’s fifty day simple moving average is $64.95 and its 200-day simple moving average is $43.52. The stock has a market cap of $167.48 billion, a P/E ratio of 367.62, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,180,723 shares of company stock worth $1,408,957,941. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Walter & Keenan Wealth Management LLC IN ADV lifted its position in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC raised its stake in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC lifted its holdings in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after buying an additional 250 shares during the period. Truvestments Capital LLC boosted its position in Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc grew its holdings in Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after acquiring an additional 300 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.