Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s stock price fell 1.6% during mid-day trading on Tuesday . The stock traded as low as $131.23 and last traded at $132.66. 22,098,712 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 46,605,516 shares. The stock had previously closed at $134.85.
Palantir Technologies News Summary
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Recent coverage continues to highlight Palantir’s strong AI-driven growth, including surging revenue, expanding U.S. commercial demand, and improving customer adoption of its Artificial Intelligence Platform. Palantir Stock Extends Recovery on Strong AI Software Demand
- Positive Sentiment: Some analysts and commentators are still arguing that PLTR could have more upside if its upcoming results confirm continued growth and strong margins, with options pricing implying a large post-earnings move. Palantir Stock Price Braces for a 15% Swing as Q2 Earnings Near
- Neutral Sentiment: Palantir is trading near the center of a broader debate over whether its premium valuation is justified by its rapid revenue growth, which remains a key theme in recent articles. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
- Negative Sentiment: Investors are weighing fresh UK regulatory scrutiny tied to Palantir’s NHS Federated Data Platform contract, which has added uncertainty around the company’s government business. Why Is Palantir Stock Falling on Wednesday?
- Negative Sentiment: Reports of emerging competition from a new open-source intelligence tool are also raising concerns that some of Palantir’s core capabilities could face pressure. Why is Palantir stock falling 5% today?
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Benchmark downgraded Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. DZ Bank started coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Finally, Mizuho reduced their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.85.
Palantir Technologies Price Performance
The company has a market capitalization of $298.63 billion, a price-to-earnings ratio of 139.97, a P/E/G ratio of 2.12 and a beta of 1.56. The stock has a fifty day simple moving average of $131.98 and a 200-day simple moving average of $143.00.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the transaction, the insider owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The transaction 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 Shyam Sankar sold 35,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total value of $4,550,000.00. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at $83,562,180. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last quarter. 9.53% of the stock is owned by insiders.
Institutional Trading of Palantir Technologies
Large investors have recently added to or reduced their stakes in the stock. Milestone Asset Management LLC boosted its holdings in shares of Palantir Technologies by 229.5% in the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares during the period. VCI Wealth Management LLC increased its holdings in shares of Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after acquiring an additional 3,621 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in Palantir Technologies in the 4th quarter valued at $222,143,000. Vanguard Group Inc. boosted its stake in Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. Finally, Jefferson Bridge Capital LLC purchased a new position in Palantir Technologies during the 4th quarter worth $1,322,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.
About Palantir Technologies
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.
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