Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2.8% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 2.8% during mid-day trading on Friday . The company traded as low as $173.80 and last traded at $174.04. Approximately 23,909,733 shares changed hands during trading, a decline of 49% from the average daily volume of 46,914,074 shares. The stock had previously closed at $179.01.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s second-quarter results remain the primary bullish catalyst: revenue reached $1.94 billion, up 92.8% year over year and above the $1.81 billion consensus estimate, while adjusted earnings of $0.41 per share exceeded expectations of $0.34. Palantir Soars on Record-Breaking Q2 Earnings
• Positive Sentiment: Analysts and market commentators continue to point to the Artificial Intelligence Platform (AIP), commercial adoption and Palantir’s forward-deployed-engineer model as potential drivers of sustained growth. Some see the company as a winner as customers adopt model-agnostic AI systems. Palantir Winning the AI Race
• Positive Sentiment: Coverage comparing Palantir with other AI stocks highlights its revenue beat and unusually strong operating performance. One report cited a consensus price target near $192, implying further upside if the growth rate continues. PLTR vs. SOUN
• Neutral Sentiment: Chamath Palihapitiya said Palantir could benefit from a multiyear shift toward AI platforms that work across different model providers. The thesis supports long-term demand but does not represent a new contract or financial guidance change. Chamath Palihapitiya on Palantir
• Negative Sentiment: Investors are questioning whether accelerating revenue can justify Palantir’s roughly $442 billion valuation and steep earnings multiple. That leaves the stock vulnerable to profit-taking if growth expectations or future guidance disappoint. Palantir’s Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares, redirecting capital to Cerebras Systems. The sale may reinforce concerns about valuation, although it is not necessarily a fundamental change in ARK’s long-term view. Cathie Wood Sells Palantir Stock

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a report on Tuesday, August 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $204.00 target price on shares of Palantir Technologies in a report on Tuesday, August 4th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $205.00 to $151.00 in a research note on Friday, May 1st. BTIG Research cut shares of Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada restated an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.19.

Palantir Technologies Trading Down 2.8%

The stock has a 50-day moving average of $133.83 and a two-hundred day moving average of $139.92. The firm has a market cap of $417.23 billion, a price-to-earnings ratio of 148.75, a price-to-earnings-growth ratio of 2.44 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 92.8% compared to the same quarter last year. Sell-side analysts expect that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Buckley sold 1,481 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company’s stock, valued at approximately $7,757,108.80. This represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 3,032 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total transaction of $500,280.00. Following the completion of the sale, the director directly owned 54,107 shares of the company’s stock, valued at $8,927,655. This trade represents a 5.31% 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 1,150,302 shares of company stock valued at $156,197,565 in the last 90 days. Company insiders own 9.53% of the company’s stock.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the company. 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 valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. BlackRock Inc. raised its stake in shares of Palantir Technologies by 0.4% in the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock valued at $22,146,030,000 after acquiring an additional 757,322 shares during the last quarter. State Street Corp lifted its position in Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after buying an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after buying an additional 805,047 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. 45.65% of the stock is owned by 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.