Palantir Technologies (NYSE:PLTR) Stock Price Down 2.6% – Should You Sell?

Shares of Palantir Technologies Inc. (NYSE:PLTR) traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $59.01 and last traded at $59.12. 20,610,787 shares were traded during trading, a decline of 64% from the average session volume of 57,768,934 shares. The stock had previously closed at $60.70.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Wedbush lifted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Down 1.7 %

The business’s 50 day moving average is $41.90 and its 200-day moving average is $31.45. The firm has a market capitalization of $133.61 billion, a P/E ratio of 295.61 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the sale, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Several institutional investors have recently modified their holdings of the business. Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after buying an additional 235 shares during the period. Greater Midwest Financial Group LLC lifted its holdings in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after buying an additional 250 shares during the period. Quantum Private Wealth LLC lifted its holdings in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after buying an additional 250 shares during the period. Truvestments Capital LLC lifted its holdings in Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after buying an additional 291 shares during the period. Finally, LCM Capital Management Inc lifted its holdings in Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after buying an additional 300 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.