Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% - Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares dropped 1.7% on Thursday . The stock traded as low as $72.42 and last traded at $74.32. Approximately 32,575,538 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 61,704,551 shares. The stock had previously closed at $75.63.

Analysts Set New Price Targets

Several brokerages have recently commented on PLTR. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Jefferies Financial Group lowered Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. Finally, Bank of America raised their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $41.00.

Palantir Technologies Trading Down 0.6 %

The stock has a 50-day simple moving average of $64.95 and a 200 day simple moving average of $43.52. The stock has a market capitalization of $171.28 billion, a price-to-earnings ratio of 375.97, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. Palantir Technologies's revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company's stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,180,723 shares of company stock valued at $1,408,957,941. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC increased its stake in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock valued at $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company's stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.