Palantir Technologies (NASDAQ:PLTR) Shares Down 0.3% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 0.3% on Tuesday . The company traded as low as $124.65 and last traded at $126.00. Approximately 24,794,220 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 76,819,885 shares. The stock had previously closed at $126.33.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Price Performance

The firm has a market cap of $296.54 billion, a P/E ratio of 663.77, a PEG ratio of 10.84 and a beta of 2.68. The stock’s 50 day moving average is $99.57 and its two-hundred day moving average is $86.02.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 39.4% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock valued at $250,504,866 over the last quarter. Corporate insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new position in shares of Palantir Technologies in the first quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $27,000. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. Finally, First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.