Palantir Technologies (NASDAQ:PLTR) Shares Down 0.5% - Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares were down 0.5% during mid-day trading on Monday . The company traded as low as $78.47 and last traded at $82.08. Approximately 31,638,560 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 66,695,633 shares. The stock had previously closed at $82.49.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLTR. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday. DA Davidson boosted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Argus cut Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.44.

Palantir Technologies Trading Down 0.4 %

The firm's fifty day simple moving average is $76.46 and its 200 day simple moving average is $52.67. The company has a market cap of $252.52 billion, a price-to-earnings ratio of 554.28, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The business's quarterly revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now owns 88,129 shares of the company's stock, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,823,602 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 over the last three months. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $3,233,000. State of Alaska Department of Revenue grew its holdings in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company's stock worth $13,786,000 after buying an additional 68,945 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock valued at $20,146,000 after acquiring an additional 87,062 shares during the period. 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.