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

Palantir Technologies Inc. (NASDAQ:PLTR) was down 2.8% during trading on Wednesday . The company traded as low as $112.25 and last traded at $113.4750. Approximately 45,383,167 shares traded hands during trading, a decline of 4% from the average session volume of 47,355,488 shares. The stock had previously closed at $116.70.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir’s partnership with Zeta Global adds another enterprise AI use case, with analysts saying it validates demand for Palantir’s Foundry platform and could help expand commercial adoption. Palantir partners with Zeta Global on AI-powered marketing infrastructure, Wedbush sees further enterprise validation
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares again, signaling continued institutional conviction in the stock despite the recent selloff. Cathie Wood Loads Up On Palantir, Cerebras, These Mag 7 Players
• Positive Sentiment: Some analysts remain bullish, citing Palantir’s rapid revenue growth, strong profitability, and expanding AI adoption as reasons the stock could recover if sentiment stabilizes. Wall Street analyst sets Palantir stock price target for 12 months
• Neutral Sentiment: Commentary around Palantir’s long-term growth story and “buy-the-dip” arguments is keeping the stock in focus, but these pieces do not provide a new fundamental catalyst. Is Palantir Technologies Stock Finally a Buy?
• Neutral Sentiment: Palantir’s new U.S. Army role in the NGC2 data layer supports the company’s government franchise, but the news has not been enough to offset broader software-sector weakness. Palantir Secures Foundational Role in NGC2 Data Layer
• Negative Sentiment: PLTR is facing a sharp valuation reset as investors de-risk AI and software stocks, with the shares underperforming and approaching a worst-month scenario after breaking technical support. Palantir Stock on Pace for Worst Month in 5 Years
• Negative Sentiment: Reports of European setbacks and contract losses are adding to concerns that Palantir’s international growth narrative is weakening, especially outside its core U.S. government business. Palantir Took a Swiss Courtroom Loss and a European Credibility Hit

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush initiated coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an “outperform” rating for the company. Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. BTIG Research lowered Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Finally, Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Price Performance

The firm has a market capitalization of $272.03 billion, a P/E ratio of 127.50, a P/E/G ratio of 1.90 and a beta of 1.53. The stock’s fifty day simple moving average is $137.49 and its 200 day simple moving average is $151.68.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock valued at $126,197,785 over the last three months. Company insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the last quarter. State Street Corp grew its stake in shares of Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $5,149,641,000. Finally, Invesco Ltd. raised its position in shares of Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after purchasing an additional 616,297 shares during the last quarter. 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.