Palantir Technologies (NASDAQ:PLTR) Trading Down 3.2% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) was down 3.2% on Monday . The company traded as low as $124.32 and last traded at $125.43. Approximately 31,278,936 shares were traded during trading, a decline of 59% from the average daily volume of 76,865,818 shares. The stock had previously closed at $129.52.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLTR shares. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Loop Capital boosted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Finally, DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Stock Performance

The stock has a market capitalization of $297.26 billion, a P/E ratio of 658.88, a PEG ratio of 10.84 and a beta of 2.68. The company’s fifty day simple moving average is $100.49 and its two-hundred day simple moving average is $86.30.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue was up 39.4% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now directly owns 184,617 shares of the company’s stock, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Corporate insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the first quarter worth $25,000. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. 1248 Management LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. Finally, First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $28,000. Institutional investors own 45.65% of the company’s stock.

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.