Palantir Technologies (NASDAQ:PLTR) Shares Down 6.8% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 6.8% during mid-day trading on Thursday . The stock traded as low as $174.53 and last traded at $175.05. Approximately 77,633,742 shares were traded during trading, a decline of 7% from the average daily volume of 83,408,336 shares. The stock had previously closed at $187.90.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Mizuho increased their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Daiwa Capital Markets increased their price objective on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $173.45.

Palantir Technologies Stock Up 1.6%

The stock’s 50 day moving average price is $177.73 and its two-hundred day moving average price is $153.68. The stock has a market cap of $422.11 billion, a price-to-earnings ratio of 423.65, a price-to-earnings-growth ratio of 6.78 and a beta of 2.63.

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

Insider Activity

In related news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the transaction, the insider directly owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,527,750 shares of company stock valued at $234,463,896 over the last 90 days. Company insiders own 9.23% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System increased its position in Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after purchasing an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC bought a new position in Palantir Technologies during the second quarter valued at approximately $204,000. New Century Financial Group LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock valued at $984,786,000 after buying an additional 1,135,841 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.