Palantir Technologies (NASDAQ:PLTR) Shares Down 2.8% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $112.25 and last traded at $113.4750. Approximately 45,383,167 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 47,355,488 shares. The stock had previously closed at $116.70.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s partnership with Zeta Global adds another enterprise AI use case, with analysts saying it validates demand for Palantir’s Foundry platform and could help expand commercial adoption. Palantir partners with Zeta Global on AI-powered marketing infrastructure, Wedbush sees further enterprise validation
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares again, signaling continued institutional conviction in the stock despite the recent selloff. Cathie Wood Loads Up On Palantir, Cerebras, These Mag 7 Players
• Positive Sentiment: Some analysts remain bullish, citing Palantir’s rapid revenue growth, strong profitability, and expanding AI adoption as reasons the stock could recover if sentiment stabilizes. Wall Street analyst sets Palantir stock price target for 12 months
• Neutral Sentiment: Commentary around Palantir’s long-term growth story and “buy-the-dip” arguments is keeping the stock in focus, but these pieces do not provide a new fundamental catalyst. Is Palantir Technologies Stock Finally a Buy?
• Neutral Sentiment: Palantir’s new U.S. Army role in the NGC2 data layer supports the company’s government franchise, but the news has not been enough to offset broader software-sector weakness. Palantir Secures Foundational Role in NGC2 Data Layer
• Negative Sentiment: PLTR is facing a sharp valuation reset as investors de-risk AI and software stocks, with the shares underperforming and approaching a worst-month scenario after breaking technical support. Palantir Stock on Pace for Worst Month in 5 Years
• Negative Sentiment: Reports of European setbacks and contract losses are adding to concerns that Palantir’s international growth narrative is weakening, especially outside its core U.S. government business. Palantir Took a Swiss Courtroom Loss and a European Credibility Hit

Analysts Set New Price Targets

PLTR has been the topic of a number of analyst reports. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating for the company. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, BTIG Research lowered shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Stock Performance

The stock has a fifty day moving average of $137.49 and a 200-day moving average of $151.68. The company has a market cap of $272.03 billion, a PE ratio of 127.50, a PEG ratio of 1.90 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. This represents a 20.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock worth $126,197,785 over the last ninety days. 9.53% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the company. Bare Financial Services Inc grew its position in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. Beaumont Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after acquiring an additional 59 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after acquiring an additional 60 shares in the last quarter. Sandbox Financial Partners LLC lifted its stake in Palantir Technologies by 1.3% in the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock worth $873,000 after acquiring an additional 61 shares during the period. Finally, San Luis Wealth Advisors LLC lifted its stake in Palantir Technologies by 1.6% in the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.