Palantir Technologies (NASDAQ:PLTR) Shares Down 2.3% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 2.3% during trading on Tuesday . The company traded as low as $165.50 and last traded at $167.33. Approximately 53,338,264 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 82,640,102 shares. The stock had previously closed at $171.25.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PLTR shares. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Bank of America lifted their target price on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Daiwa Capital Markets increased their price target on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Robert W. Baird lifted their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Performance

The stock has a 50 day moving average of $180.78 and a 200-day moving average of $157.29. The company has a market cap of $398.82 billion, a PE ratio of 398.41, a price-to-earnings-growth ratio of 6.75 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the sale, the insider owned 702,786 shares of the company’s stock, valued at $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,527,750 shares of company stock valued at $234,463,896 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares in the last quarter. State Street Corp raised its holdings in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Norges Bank purchased a new position in Palantir Technologies in the 2nd quarter worth approximately $3,307,457,000. Invesco Ltd. boosted its holdings in shares of Palantir Technologies by 5.9% during the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock worth $3,976,534,000 after purchasing an additional 1,213,529 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Palantir Technologies by 3.8% during the 3rd quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock worth $3,846,957,000 after purchasing an additional 769,238 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.