Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2.2% – Time to Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) fell 2.2% during mid-day trading on Friday . The stock traded as low as $173.38 and last traded at $177.03. 30,503,188 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 90,976,164 shares. The stock had previously closed at $181.02.

Analysts Set New Price Targets

A number of brokerages recently commented on PLTR. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Wall Street Zen raised Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America raised their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $136.61.

Palantir Technologies Stock Down 2.1%

The company has a market capitalization of $418.11 billion, a PE ratio of 590.59, a PEG ratio of 9.99 and a beta of 2.60. The company has a 50-day moving average price of $151.03 and a two-hundred day moving average price of $119.48.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares of the company’s stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock valued at $196,472,623 in the last ninety days. 9.23% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter worth $25,000. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies in the first quarter worth about $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $27,000. Finally, Briaud Financial Planning Inc purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $27,000. Hedge funds and other 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.