Palantir Technologies (NASDAQ:PLTR) Trading Down 6.8% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price dropped 6.8% on Thursday . The company traded as low as $174.53 and last traded at $175.05. Approximately 77,633,742 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 83,408,336 shares. The stock had previously closed at $187.90.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research reports. HSBC raised their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday. Mizuho raised their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday. DA Davidson raised their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $167.66.

Palantir Technologies Stock Performance

The stock has a market cap of $415.28 billion, a PE ratio of 416.80, a price-to-earnings-growth ratio of 10.11 and a beta of 2.63. The company’s 50-day moving average price is $176.97 and its 200 day moving average price is $152.92.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,527,750 shares of company stock valued at $234,463,896 over the last quarter. 9.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of the business. Occidental Asset Management LLC grew its stake in shares of Palantir Technologies by 2.8% in the third quarter. Occidental Asset Management LLC now owns 1,964 shares of the company’s stock worth $358,000 after acquiring an additional 53 shares in the last quarter. Gallacher Capital Management LLC grew its stake in shares of Palantir Technologies by 2.2% during the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock worth $447,000 after purchasing an additional 53 shares in the last quarter. Lionshead Wealth Management LLC grew its stake in shares of Palantir Technologies by 0.4% during the third quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company’s stock worth $2,395,000 after purchasing an additional 56 shares in the last quarter. Ellenbecker Investment Group grew its stake in shares of Palantir Technologies by 3.6% during the third quarter. Ellenbecker Investment Group now owns 1,619 shares of the company’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Finally, Traveka Wealth LLC grew its stake in shares of Palantir Technologies by 1.6% during the third quarter. Traveka Wealth LLC now owns 3,695 shares of the company’s stock worth $674,000 after purchasing an additional 57 shares in the last quarter. 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.