Palantir Technologies (NASDAQ:PLTR) Stock Price Down 7.9% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 7.9% during trading on Tuesday . The company traded as low as $185.56 and last traded at $190.74. 119,017,548 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 83,421,703 shares. The stock had previously closed at $207.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. Robert W. Baird boosted their price target on Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. UBS Group upped their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald upped their price objective on Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.33.

Palantir Technologies Stock Performance

The firm has a fifty day moving average price of $175.75 and a two-hundred day moving average price of $151.99. The stock has a market capitalization of $452.50 billion, a P/E ratio of 635.82, a PEG ratio of 10.87 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company’s revenue was up 62.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Peregrine Asset Advisers Inc. purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth $296,000. Ashton Thomas Private Wealth LLC increased its stake in shares of Palantir Technologies by 102.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 85,114 shares of the company’s stock worth $15,527,000 after purchasing an additional 43,031 shares in the last quarter. Valley Brook Capital Group Inc. purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth $219,000. Penserra Capital Management LLC increased its stake in shares of Palantir Technologies by 41.9% in the 3rd quarter. Penserra Capital Management LLC now owns 228,490 shares of the company’s stock worth $41,679,000 after purchasing an additional 67,519 shares in the last quarter. Finally, SGL Investment Advisors Inc. increased its stake in shares of Palantir Technologies by 28.3% in the 3rd quarter. SGL Investment Advisors Inc. now owns 3,109 shares of the company’s stock worth $567,000 after purchasing an additional 685 shares in the last quarter. 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.