Palantir Technologies (NYSE:PLTR) Stock Price Down 0.3% – Should You Sell?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was down 0.3% during trading on Thursday . The company traded as low as $41.73 and last traded at $41.82. Approximately 12,143,161 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 57,091,051 shares. The stock had previously closed at $41.93.

Analysts Set New Price Targets

A number of equities analysts recently commented on PLTR shares. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Finally, Wedbush boosted 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. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Down 0.2 %

The firm has a 50-day moving average of $35.09 and a 200 day moving average of $27.82. The stock has a market capitalization of $93.15 billion, a P/E ratio of 348.50 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the business posted $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,747,176 shares of company stock valued at $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Greater Midwest Financial Group LLC boosted its holdings in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares in the last quarter. HBW Advisory Services LLC boosted its holdings in shares of Palantir Technologies by 3.6% in the 3rd quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock worth $379,000 after acquiring an additional 354 shares in the last quarter. Evolution Wealth Advisors LLC boosted its holdings in shares of Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after acquiring an additional 360 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after buying an additional 379 shares in the last quarter. Finally, Sage Capital Advisors llc boosted its position in Palantir Technologies by 1.8% in the 3rd quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock valued at $856,000 after buying an additional 400 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.