Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.4% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 1.4% during mid-day trading on Wednesday . The stock traded as low as $128.80 and last traded at $130.21. 29,255,540 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 47,858,488 shares. The stock had previously closed at $132.07.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Analyst Ratings Changes

PLTR has been the subject of several research reports. DA Davidson decreased their price objective on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Weiss Ratings cut shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a report on Friday, June 5th. Finally, Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Stock Down 2.4%

The firm has a market capitalization of $306.83 billion, a PE ratio of 143.81, a PEG ratio of 2.07 and a beta of 1.53. The stock’s fifty day simple moving average is $139.91 and its 200 day simple moving average is $153.94.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 84.7% on a year-over-year basis. On average, analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. This represents a 99.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 925,789 shares of company stock valued at $126,007,032. Company insiders own 9.53% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Bare Financial Services Inc increased its stake in shares of Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Basepoint Wealth LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth $29,000. Morton Brown Family Wealth LLC boosted its position in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the last quarter. Cornerstone Financial Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth $31,000. Finally, United Financial Planning Group LLC bought a new position in shares of Palantir Technologies during the third quarter worth $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.