Palantir Technologies (NYSE:PLTR) Stock Price Down 0.7% – Time to Sell?

Shares of Palantir Technologies Inc. (NYSE:PLTR) fell 0.7% during trading on Thursday . The company traded as low as $42.41 and last traded at $42.83. 20,986,553 shares changed hands during trading, a decline of 63% from the average session volume of 57,178,348 shares. The stock had previously closed at $43.13.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Wedbush lifted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Argus initiated coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Trading Up 0.6 %

The business’s 50-day moving average is $33.35 and its two-hundred day moving average is $27.16. The stock has a market capitalization of $96.58 billion, a PE ratio of 360.92 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,831,855 shares of company stock worth $649,330,295 in the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. Axiom Advisory LLC lifted its stake in shares of Palantir Technologies by 150.3% in the 3rd quarter. Axiom Advisory LLC now owns 74,285 shares of the company’s stock worth $2,763,000 after acquiring an additional 44,612 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Palantir Technologies by 21.4% in the third quarter. Park Avenue Securities LLC now owns 128,221 shares of the company’s stock valued at $4,770,000 after acquiring an additional 22,645 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after acquiring an additional 102,479 shares during the period. Finally, Accel Wealth Management bought a new stake in Palantir Technologies during the first quarter worth approximately $360,000. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

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.