Palantir Technologies (NASDAQ:PLTR) Trading Down 2.5% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) fell 2.5% during mid-day trading on Thursday . The company traded as low as $66.51 and last traded at $68.23. 91,110,504 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 84,501,508 shares. The stock had previously closed at $69.99.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wedbush raised their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $42.12.

Palantir Technologies Trading Down 2.5 %

The firm has a market capitalization of $155.43 billion, a price-to-earnings ratio of 341.17, a P/E/G ratio of 10.18 and a beta of 2.82. The firm’s 50-day moving average is $67.89 and its 200 day moving average is $45.22.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. Analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,645,510 shares of company stock valued at $1,444,267,325. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new position in Palantir Technologies in the second quarter valued at about $274,000. Victory Capital Management Inc. grew its holdings in Palantir Technologies by 18.4% during the second quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock valued at $16,720,000 after purchasing an additional 102,758 shares during the period. Ballentine Partners LLC increased its position in Palantir Technologies by 23.7% in the second quarter. Ballentine Partners LLC now owns 12,339 shares of the company’s stock worth $313,000 after buying an additional 2,368 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at $441,000. Finally, Choreo LLC lifted its position in shares of Palantir Technologies by 318.2% during the 2nd quarter. Choreo LLC now owns 37,635 shares of the company’s stock valued at $973,000 after buying an additional 28,635 shares during 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.