Palantir Technologies (NASDAQ:PLTR) Trading Down 4.4% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 4.4% during trading on Friday . The stock traded as low as $134.02 and last traded at $135.53. 37,402,937 shares changed hands during trading, a decline of 23% from the average session volume of 48,299,211 shares. The stock had previously closed at $141.70.

Key Palantir Technologies News

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

• Positive Sentiment: Wedbush reaffirmed its Outperform rating and raised its target to $230, calling Palantir “irreplaceable” after AIPCon. Palantir (PLTR) Stock: Wedbush Sees Company as ‘Irreplaceable’ After AIPCon Event
• Positive Sentiment: Rosenblatt reaffirmed a Buy rating and lifted its target to $225, signaling confidence that Palantir still has substantial upside. Palantir Technologies had its “buy” rating reaffirmed by Rosenblatt Securities
• Positive Sentiment: Analysts and bloggers highlighted Palantir’s improving fundamentals, including a surge in the company’s Rule of 40 and continued AI-driven revenue growth. Palantir’s Rule of 40 Explosion Indicates Strong AI Dominance
• Positive Sentiment: New enterprise wins with Kirkland & Ellis, McCarthy Building, and GNP Seguros show Palantir’s AI products are expanding beyond government into large commercial customers. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Management commentary and social-media discussion remain upbeat, with investors citing strong revenue growth, raised guidance, and growing AI adoption across government and commercial sectors. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and AI Momentum

Analysts Set New Price Targets

Several equities analysts have issued reports on PLTR shares. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research report on Friday. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Wednesday, May 6th. Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Finally, Benchmark started coverage on Palantir Technologies in a research note on Wednesday, April 1st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Price Performance

The company’s 50-day moving average price is $141.19 and its two-hundred day moving average price is $154.99. The company has a market capitalization of $324.91 billion, a price-to-earnings ratio of 152.28, a PEG ratio of 2.26 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.54 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the sale, the director owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 925,789 shares of company stock worth $126,007,032 over the last quarter. 9.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of PLTR. Gallacher Capital Management LLC raised its position in Palantir Technologies by 2.2% during the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock valued at $447,000 after acquiring an additional 53 shares in the last quarter. Bare Financial Services Inc increased its stake in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Palantir Technologies by 15.8% during the 3rd quarter. AlphaQuest LLC now owns 425 shares of the company’s stock valued at $78,000 after purchasing an additional 58 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of Palantir Technologies by 2.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after purchasing an additional 59 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock worth $1,890,000 after purchasing an additional 60 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.