Palantir Technologies (NYSE:PLTR) Trading Down 0.2% - Should You Sell?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s stock price dropped 0.2% during trading on Tuesday . The company traded as low as $59.27 and last traded at $61.15. Approximately 35,706,077 shares were traded during trading, a decline of 39% from the average daily volume of 58,618,270 shares. The stock had previously closed at $61.26.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Wedbush boosted their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Northland Capmk raised Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. The Goldman Sachs Group boosted their price target 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. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group lowered Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.71.

Palantir Technologies Stock Performance

The business's 50-day simple moving average is $43.72 and its 200 day simple moving average is $32.36. The firm has a market cap of $141.53 billion, a P/E ratio of 305.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $0.03 earnings per share. The company's quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company's stock, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Finally, Creekmur Asset Management LLC lifted its holdings in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock valued at $40,000 after purchasing an additional 335 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.

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