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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 2.8% during trading on Friday . The stock traded as low as $173.80 and last traded at $174.04. 23,909,733 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 46,914,074 shares. The stock had previously closed at $179.01.

More Palantir Technologies News

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

• Positive Sentiment: Palantir’s second-quarter results remain the primary bullish catalyst: revenue reached $1.94 billion, up 92.8% year over year and above the $1.81 billion consensus estimate, while adjusted earnings of $0.41 per share exceeded expectations of $0.34. Palantir Soars on Record-Breaking Q2 Earnings
• Positive Sentiment: Analysts and market commentators continue to point to the Artificial Intelligence Platform (AIP), commercial adoption and Palantir’s forward-deployed-engineer model as potential drivers of sustained growth. Some see the company as a winner as customers adopt model-agnostic AI systems. Palantir Winning the AI Race
• Positive Sentiment: Coverage comparing Palantir with other AI stocks highlights its revenue beat and unusually strong operating performance. One report cited a consensus price target near $192, implying further upside if the growth rate continues. PLTR vs. SOUN
• Neutral Sentiment: Chamath Palihapitiya said Palantir could benefit from a multiyear shift toward AI platforms that work across different model providers. The thesis supports long-term demand but does not represent a new contract or financial guidance change. Chamath Palihapitiya on Palantir
• Negative Sentiment: Investors are questioning whether accelerating revenue can justify Palantir’s roughly $442 billion valuation and steep earnings multiple. That leaves the stock vulnerable to profit-taking if growth expectations or future guidance disappoint. Palantir’s Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares, redirecting capital to Cerebras Systems. The sale may reinforce concerns about valuation, although it is not necessarily a fundamental change in ARK’s long-term view. Cathie Wood Sells Palantir Stock

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Tuesday, August 4th. Wolfe Research assumed coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating for the company. Benchmark restated a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Oppenheimer lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $230.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $192.19.

Palantir Technologies Trading Down 2.8%

The stock has a market capitalization of $417.23 billion, a PE ratio of 148.75, a PEG ratio of 2.44 and a beta of 1.59. The company’s 50 day simple moving average is $133.83 and its 200 day simple moving average is $139.92.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 92.8% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The transaction 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 Shyam Sankar sold 165,514 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,150,302 shares of company stock valued at $156,197,565 in the last three months. Company insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in the company. BCGM Wealth Management LLC grew its stake in Palantir Technologies by 2.0% during the 2nd quarter. BCGM Wealth Management LLC now owns 3,202 shares of the company’s stock worth $374,000 after buying an additional 64 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in Palantir Technologies by 1.2% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 5,297 shares of the company’s stock valued at $966,000 after purchasing an additional 65 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 17,574 shares of the company’s stock valued at $3,124,000 after purchasing an additional 67 shares during the period. Financial Partners Group Inc increased its position in shares of Palantir Technologies by 1.8% during the 4th quarter. Financial Partners Group Inc now owns 3,802 shares of the company’s stock valued at $676,000 after purchasing an additional 68 shares during the period. Finally, LifeSteps Financial Inc. raised its stake in shares of Palantir Technologies by 4.9% in the 1st quarter. LifeSteps Financial Inc. now owns 1,482 shares of the company’s stock worth $217,000 after buying an additional 69 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.