Palantir Technologies (NASDAQ:PLTR) Trading Down 0.1% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 0.1% on Thursday . The company traded as low as $81.30 and last traded at $82.28. Approximately 23,096,170 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 61,552,875 shares. The stock had previously closed at $82.38.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Performance

The company’s fifty day moving average is $61.42 and its two-hundred day moving average is $41.62. The company has a market cap of $189.80 billion, a price-to-earnings ratio of 416.62, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,351,045 shares of company stock valued at $1,710,644,202. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC grew its stake in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE raised its position in shares of Palantir Technologies by 47.5% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds 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.