Palantir Technologies (NASDAQ:PLTR) Stock Price Down 6.1% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 6.1% on Wednesday . The stock traded as low as $123.45 and last traded at $124.57. Approximately 37,972,780 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 46,576,508 shares. The stock had previously closed at $132.66.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir continues to show powerful growth momentum, with Q1 2026 revenue up 85% year over year to $1.63 billion and U.S. commercial revenue up 133%, reinforcing the company’s AI-driven demand story. Article title
• Positive Sentiment: Multiple recent analyses highlight that Palantir may still have upside based on fair-value estimates and its expanding secure AI platform, suggesting the long-term bull case remains intact. Article title
• Positive Sentiment: Investor attention is also building ahead of Palantir’s next earnings report, with options pricing implying a sizable post-earnings move that could benefit the stock if results and guidance beat expectations. Article title
• Neutral Sentiment: Coverage around Palantir’s valuation remains split, with some analysts arguing the stock is still below fair value while others say the premium multiple leaves little room for error. Article title
• Negative Sentiment: The biggest near-term pressure appears to be scrutiny of Palantir’s UK NHS data contract, which is adding headline risk and weighing on sentiment alongside ongoing concerns that the stock’s valuation is too rich. Article title

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Benchmark downgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Citigroup boosted their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Phillip Securities lifted their price target on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $190.85.

Palantir Technologies Stock Performance

The stock has a market capitalization of $298.63 billion, a price-to-earnings ratio of 139.97, a price-to-earnings-growth ratio of 2.16 and a beta of 1.56. The business’s 50 day simple moving average is $132.09 and its 200-day simple moving average is $143.38.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the transaction, the insider owned 60,226 shares of the company’s stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. This represents a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 over the last three months. 9.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the business. Beaumont Financial Advisors LLC increased its holdings in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after buying an additional 59 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in shares of Palantir Technologies by 0.6% in the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after purchasing an additional 60 shares in the last quarter. Monument Capital Management increased its stake in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after purchasing an additional 63 shares in the last quarter. San Luis Wealth Advisors LLC raised its holdings in Palantir Technologies by 1.6% in the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after purchasing an additional 63 shares during the period. Finally, CYBER HORNET ETFs LLC raised its holdings in Palantir Technologies by 1.2% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 5,297 shares of the company’s stock worth $966,000 after purchasing an additional 65 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.