Palantir Technologies (NASDAQ:PLTR) Stock Price Down 6.1% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 6.1% during mid-day trading on Tuesday . The company traded as low as $117.89 and last traded at $123.53. Approximately 43,045,144 shares were traded during mid-day trading, a decline of 7% from the average session volume of 46,154,461 shares. The stock had previously closed at $131.53.

More Palantir Technologies News

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

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and maintained a $225 price target, implying substantial upside from recent trading levels. Benzinga analyst rating
• Positive Sentiment: Analysts expect another quarter of roughly 80% revenue growth, supported by customer momentum, larger artificial-intelligence contracts and strong U.S. commercial demand. Palantir Q2 earnings outlook
• Positive Sentiment: Some Wall Street analysts anticipate a “solid beat and raise,” while recent results showed revenue growth of 84.7% and sharply higher profit, reinforcing the company’s AI growth narrative. Palantir bull and bear case

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTR. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Wednesday, May 6th. Cantor Fitzgerald restated a “neutral” rating and set a $138.00 price objective on shares of Palantir Technologies in a research report on Friday, May 22nd. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Citigroup dropped their price target on shares of Palantir Technologies from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Finally, BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $189.88.

Palantir Technologies Trading Down 0.5%

The stock has a market capitalization of $293.37 billion, a price-to-earnings ratio of 137.10, a price-to-earnings-growth ratio of 1.97 and a beta of 1.56. The firm’s fifty day moving average price is $130.96 and its 200 day moving average price is $141.20.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the transaction, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated 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 transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This represents a 99.82% 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. In the last three months, insiders have sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its stake in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in Palantir Technologies in the fourth quarter valued at $31,000. Clayton Financial Group LLC boosted its holdings in Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Wexford Capital LP acquired a new position in Palantir Technologies during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.