Palantir Technologies (NASDAQ:PLTR) Trading Down 6.5% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 6.5% on Thursday . The company traded as low as $170.73 and last traded at $172.14. 62,617,790 shares changed hands during trading, a decline of 25% from the average session volume of 82,984,609 shares. The stock had previously closed at $184.17.

Analyst Ratings Changes

PLTR has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Palantir Technologies in a report on Wednesday, November 5th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. DA Davidson increased their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, UBS Group upped their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Stock Up 1.1%

The firm has a market capitalization of $414.74 billion, a PE ratio of 414.32, a price-to-earnings-growth ratio of 6.75 and a beta of 2.63. The company’s 50-day simple moving average is $180.47 and its 200 day simple moving average is $156.63.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director owned 62,087 shares in the company, valued at $11,572,395.93. The trade was a 1.27% decrease in their position. 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 worth $234,463,896. Company insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 4.0% during the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after buying an additional 8,168,604 shares during the last quarter. State Street Corp grew its stake in Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after purchasing an additional 6,097,629 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $3,307,457,000. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 5.9% in the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.