Palantir Technologies (NASDAQ:PLTR) Trading Down 3.6% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 3.6% during mid-day trading on Wednesday . The company traded as low as $180.40 and last traded at $184.17. 54,825,526 shares were traded during mid-day trading, a decline of 34% from the average session volume of 83,079,914 shares. The stock had previously closed at $190.96.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PLTR shares. UBS Group lifted their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. HSBC boosted their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Robert W. Baird boosted their target price on Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $172.28.

Palantir Technologies Stock Performance

The stock has a 50-day moving average price of $179.15 and a 200-day moving average price of $155.63. The stock has a market cap of $436.91 billion, a P/E ratio of 438.51, a P/E/G ratio of 7.51 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share 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 analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares of the company’s stock, valued at approximately $8,000,877. This represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,527,750 shares of company stock valued at $234,463,896. Corporate insiders own 9.23% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Palantir Technologies in the second quarter worth $3,307,457,000. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies in the 2nd quarter worth about $2,543,888,000. Vanguard Group Inc. grew its position in Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after purchasing an additional 8,168,604 shares during the last quarter. Nuveen LLC bought a new stake in Palantir Technologies during the 1st quarter valued at about $520,232,000. Finally, State Street Corp raised its holdings in Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after buying an additional 6,097,629 shares during the last quarter. Institutional investors 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.