Palantir Technologies (NASDAQ:PLTR) Shares Down 1.7% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 1.7% during trading on Thursday . The company traded as low as $125.01 and last traded at $128.47. Approximately 53,972,737 shares were traded during trading, an increase of 14% from the average session volume of 47,288,750 shares. The stock had previously closed at $130.63.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Recent coverage says Palantir’s AIP platform is still accelerating U.S. commercial growth, with rising revenue, more customers, and larger contract wins. Palantir’s AIP Momentum Continues to Transform U.S. Commercial Growth
• Positive Sentiment: Wolfe Research upgraded PLTR to Peer Perform, saying its AI platform, ontology, and forward-deployed engineers give it a strong position in enterprise AI. Is Palantir Technologies Inc. (PLTR) Becoming the Face of Applied Enterprise AI?
• Positive Sentiment: Several bullish articles argue Palantir’s growth remains unusually strong and that the stock may still be compelling for long-term investors despite its premium valuation. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’
• Neutral Sentiment: Market commentary also notes Palantir remains a highly watched AI leader, with some investors rotating into ETFs instead of individual AI names as volatility picks up. The AI Trade Is Getting Harder to Pick, But These 3 ETFs Take a Different Route (PLTR)
• Negative Sentiment: PLTR slipped below a closely watched technical support area, which can encourage short-term selling if buyers do not step in soon. Palantir stock slips below a crucial technical price: here’s why
• Negative Sentiment: New reports of insider selling and a “monster insider trading alert” are pressuring sentiment, adding to concerns that insiders may be taking profits after the stock’s big run. Monster insider trading alert for Palantir (PLTR) stock
• Negative Sentiment: European headlines are also a drag: a Swiss legal loss and France ending work with Palantir’s intelligence agency customer reinforce sovereignty and contract-risk concerns overseas. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe

Analyst Ratings Changes

Several equities research analysts have recently commented on PLTR shares. DA Davidson reduced their target price on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Mizuho decreased their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Oppenheimer began coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Wedbush initiated coverage on shares of Palantir Technologies in a research note on Tuesday. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Stock Down 1.7%

The business’s fifty day moving average is $138.61 and its two-hundred day moving average is $153.02. The firm has a market cap of $307.98 billion, a price-to-earnings ratio of 144.35, a price-to-earnings-growth ratio of 2.11 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the sale, the insider owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 927,270 shares of company stock worth $126,197,785. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of PLTR. Bare Financial Services Inc raised its holdings in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $29,000. United Financial Planning Group LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $32,000. Morton Brown Family Wealth LLC raised its stake in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the period. Finally, Cornerstone Financial Management LLC bought a new position in Palantir Technologies during the fourth quarter worth about $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.