Palantir Technologies (NYSE:PLTR) Stock Price Down 3.5% - Should You Sell?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shares dropped 3.5% on Wednesday . The company traded as low as $59.96 and last traded at $60.77. Approximately 23,347,301 shares changed hands during trading, a decline of 60% from the average daily volume of 58,659,352 shares. The stock had previously closed at $62.98.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLTR. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Bank of America increased their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $31.71.

Palantir Technologies Trading Down 2.3 %

The company has a market capitalization of $140.21 billion, a price-to-earnings ratio of 303.87 and a beta of 2.70. The company has a 50 day moving average price of $44.29 and a 200 day moving average price of $32.64.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm's revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. Equities analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,551,467 shares of company stock valued at $1,435,420,536. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $262,000. Orion Portfolio Solutions LLC grew its stake in Palantir Technologies by 7.2% during the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company's stock worth $1,351,000 after buying an additional 3,922 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Palantir Technologies by 29.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 79,854 shares of the company's stock valued at $1,837,000 after buying an additional 18,170 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Palantir Technologies by 95.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company's stock valued at $607,000 after buying an additional 12,900 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $59,000. Institutional investors own 45.65% of the company's stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.