Palantir Technologies (NASDAQ:PLTR) Trading Down 2.6% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 2.6% during trading on Wednesday . The stock traded as low as $158.25 and last traded at $158.43. Approximately 61,174,654 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 46,943,516 shares. The stock had previously closed at $162.66.

More Palantir Technologies News

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

• Positive Sentiment: Blowout Q2 results: Revenue rose 93% year over year to $1.935 billion, exceeding the roughly $1.81 billion consensus estimate, while adjusted EPS of $0.41 beat expectations near $0.34. GAAP net income reached $1.062 billion, and adjusted operating margin was approximately 62%. Palantir posts blowout Q2 numbers
• Positive Sentiment: Commercial AI demand accelerated: U.S. commercial revenue surged 149%, while U.S. government revenue climbed 90%. Management attributed the growth to demand for “AI sovereignty”—giving organizations greater control over their data, models and operations. Palantir is leaving software peers behind
• Positive Sentiment: Guidance was raised materially: Palantir now expects roughly $8.15 billion to $8.16 billion of 2026 revenue, compared with consensus near $7.7 billion, and forecast third-quarter revenue of approximately $2.16 billion. The company also raised its U.S. commercial growth outlook to at least 134%. Palantir raises annual revenue forecast
• Positive Sentiment: Analyst sentiment improved: Deutsche Bank upgraded PLTR to Buy, while Northland raised its price target to $200 and Piper Sandler reaffirmed an Overweight rating with a $230 target. The earnings-driven rally also pushed shares above their 200-day moving average, reinforcing bullish momentum. Deutsche Bank upgrades Palantir
• Positive Sentiment: Profitability and cash generation strengthen the bull case: Articles highlighted approximately $1.22 billion in free cash flow and expanding margins, suggesting Palantir is converting AI adoption into profits without the capital intensity of model developers or data-center operators. Palantir is winning
• Neutral Sentiment: Valuation remains the key debate: Despite the operating performance, PLTR trades at a very high earnings multiple, leaving little room for execution misses. Michael Burry warned that Palantir and other AI-linked stocks could become “future ghost towns” if shortages and pricing power fade. Michael Burry warns on Palantir
• Negative Sentiment: Profit-taking and supply concerns may pressure shares: Cathie Wood’s ARK reportedly sold about $6.4 million of PLTR after the earnings surge, while reported insider activity showed sales but no purchases in the past six months. These factors can weigh on sentiment after a sharp rally.

Analyst Ratings Changes

A number of brokerages have issued reports on PLTR. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Wednesday, May 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $204.00 target price on shares of Palantir Technologies in a report on Tuesday. DZ Bank started coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price target on the stock. President Capital upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.50 to $133.00 in a research report on Monday, June 29th. Finally, BNP Paribas Exane started coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.73.

Palantir Technologies Price Performance

The firm has a fifty day moving average price of $130.68 and a two-hundred day moving average price of $139.93. The stock has a market capitalization of $379.81 billion, a PE ratio of 178.01, a P/E/G ratio of 2.01 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Palantir Technologies had a return on equity of 32.90% and a net margin of 49.01%.Palantir Technologies’s revenue was up 92.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the company’s 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 transaction, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $450,000. Bison Wealth LLC increased its holdings in Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares during the period. Capstone Wealth Management Group LLC raised its position in Palantir Technologies by 38.0% during the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after purchasing an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Palantir Technologies by 36.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Vivaldi Capital Management LP purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $315,000. 45.65% of the stock is currently owned by 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.