Palantir Technologies (NASDAQ:PLTR) Trading Down 2.4% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 2.4% during mid-day trading on Friday . The stock traded as low as $126.65 and last traded at $127.99. 35,098,160 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 47,575,191 shares. The stock had previously closed at $131.08.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 price objective on the stock. UBS Group lifted their target price on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Wedbush reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Palantir Technologies in a research report on Friday, June 5th. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Price Performance

The firm has a 50 day moving average of $139.91 and a two-hundred day moving average of $153.94. The stock has a market cap of $306.83 billion, a PE ratio of 143.81, a PEG ratio of 2.07 and a beta of 1.53.

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 return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the transaction, the insider owned 199,759 shares in the company, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 925,789 shares of company stock valued at $126,007,032 in the last three months. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter worth about $5,149,641,000. Jennison Associates LLC acquired a new stake in Palantir Technologies in the 1st quarter worth about $1,574,111,000. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after purchasing an additional 8,168,604 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Palantir Technologies by 277.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after purchasing an additional 7,678,747 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of 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 purchasing an additional 6,777,771 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.