Palantir Technologies (NASDAQ:PLTR) Trading Down 3.6% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 3.6% during mid-day trading on Wednesday . The stock traded as low as $99.75 and last traded at $100.07. 33,439,100 shares traded hands during trading, a decline of 56% from the average session volume of 76,655,594 shares. The stock had previously closed at $103.83.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. Northland Securities raised their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wedbush lifted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Price Performance

The stock has a market cap of $230.68 billion, a price-to-earnings ratio of 505.86, a PEG ratio of 7.54 and a beta of 2.81. The firm has a fifty day moving average of $74.85 and a 200 day moving average of $51.92.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the transaction, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 over the last quarter. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.