Palantir Technologies (NYSE:PLTR) Shares Gap Down – Time to Sell?

Shares of Palantir Technologies Inc. (NYSE:PLTR) gapped down before the market opened on Tuesday . The stock had previously closed at $75.75, but opened at $73.28. Palantir Technologies shares last traded at $73.20, with a volume of 13,265,365 shares traded.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $38.40.

Palantir Technologies Stock Down 3.9 %

The stock has a market cap of $162.90 billion, a price-to-earnings ratio of 357.57, a PEG ratio of 10.18 and a beta of 2.87. The company has a 50 day simple moving average of $57.71 and a 200-day simple moving average of $39.61.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Peter Thiel sold 4,254,666 shares of Palantir Technologies stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,612,366 shares of company stock worth $1,867,342,292 in the last three months. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its position in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Palantir Technologies by 26.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock worth $8,116,000 after acquiring an additional 44,768 shares during the period. Retirement Systems of Alabama acquired a new position in Palantir Technologies in the third quarter worth about $16,372,000. Oddo BHF Asset Management Sas bought a new position in Palantir Technologies during the third quarter worth about $631,000. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Palantir Technologies by 1,736.1% during the third quarter. Beaird Harris Wealth Management LLC now owns 31,085 shares of the company’s stock valued at $1,156,000 after purchasing an additional 29,392 shares in 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.