Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 1% on Monday . The company traded as low as $129.13 and last traded at $130.44. Approximately 42,073,077 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 78,775,276 shares. The stock had previously closed at $131.78.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PLTR shares. DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Mizuho boosted their target price on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Price Performance

The stock has a market capitalization of $314.27 billion, a PE ratio of 700.93, a PEG ratio of 10.84 and a beta of 2.64. The company has a 50 day moving average price of $107.55 and a 200-day moving average price of $91.04.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The business’s revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last ninety days. Company insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the stock. Mather Group LLC. grew its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares during the last quarter. Sage Advisors LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $369,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Palantir Technologies by 13.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company’s stock worth $18,725,000 after acquiring an additional 28,534 shares during the last quarter. MGB Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $278,000. Finally, FFG Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $4,886,000. 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.