Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.5% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) dropped 0.5% during trading on Tuesday . The company traded as low as $75.67 and last traded at $76.80. Approximately 20,001,207 shares traded hands during trading, a decline of 68% from the average daily volume of 61,553,973 shares. The stock had previously closed at $77.18.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Wedbush increased their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Stock Down 1.6 %

The company has a 50-day moving average of $62.94 and a 200 day moving average of $42.55. The stock has a market capitalization of $172.97 billion, a PE ratio of 379.67, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,180,723 shares of company stock valued at $1,408,957,941 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Palantir Technologies by 26.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock worth $8,116,000 after acquiring an additional 44,768 shares in the last quarter. Retirement Systems of Alabama purchased a new position in Palantir Technologies during the 3rd quarter valued at about $16,372,000. Finally, Oddo BHF Asset Management Sas acquired a new position in Palantir Technologies in the 3rd quarter valued at about $631,000. 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.