Palantir Technologies (NASDAQ:PLTR) Trading Down 6.8% – Should You Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) dropped 6.8% during trading on Thursday . The company traded as low as $174.53 and last traded at $175.05. Approximately 77,633,742 shares traded hands during trading, a decline of 7% from the average daily volume of 83,408,336 shares. The stock had previously closed at $187.90.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Robert W. Baird boosted their price target on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday. Northland Securities boosted their price target on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday. Citigroup boosted their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.66.

Palantir Technologies Stock Down 6.8%

The business’s fifty day moving average price is $176.97 and its 200 day moving average price is $152.92. The firm has a market capitalization of $415.28 billion, a PE ratio of 416.80, a PEG ratio of 10.11 and a beta of 2.63.

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

Insider Activity

In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,527,750 shares of company stock valued at $234,463,896 over the last ninety days. 9.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC grew its position in Palantir Technologies by 45.7% during the third quarter. Ameritas Advisory Services LLC now owns 51,107 shares of the company’s stock worth $9,323,000 after buying an additional 16,026 shares during the period. Rothschild Capital Partners LLC acquired a new position in Palantir Technologies during the third quarter worth about $504,000. Acorn Creek Capital LLC acquired a new position in Palantir Technologies during the third quarter worth about $211,000. Lafayette Investments Inc. acquired a new position in Palantir Technologies during the third quarter worth about $242,000. Finally, Metis Global Partners LLC grew its position in Palantir Technologies by 1.8% during the third quarter. Metis Global Partners LLC now owns 105,647 shares of the company’s stock worth $19,272,000 after buying an additional 1,845 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.