Palantir Technologies (NASDAQ:PLTR) Trading Down 3.6% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $180.40 and last traded at $184.17. Approximately 54,825,526 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 83,079,914 shares. The stock had previously closed at $190.96.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLTR. Northland Securities upped their target price on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Citigroup lifted their price target on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. HSBC increased their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. DA Davidson raised their price objective on Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Down 3.6%

The company has a market capitalization of $436.91 billion, a price-to-earnings ratio of 438.51, a price-to-earnings-growth ratio of 7.51 and a beta of 2.63. The company’s fifty day simple moving average is $179.15 and its two-hundred day simple moving average is $155.63.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the transaction, the director directly owned 62,087 shares in the company, valued at $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,527,750 shares of company stock worth $234,463,896 over the last three months. 9.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Palantir Technologies in the second quarter valued at about $3,307,457,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at $2,543,888,000. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares during the period. Nuveen LLC bought a new stake in Palantir Technologies during the 1st quarter valued at $520,232,000. Finally, State Street Corp raised its stake in shares of Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.