Palantir Technologies (NASDAQ:PLTR) Trading Down 0.1% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 0.1% during mid-day trading on Thursday . The company traded as low as $81.30 and last traded at $82.28. Approximately 23,096,170 shares were traded during trading, a decline of 62% from the average daily volume of 61,552,875 shares. The stock had previously closed at $82.38.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. DA Davidson lifted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho upped their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Wedbush lifted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Stock Down 3.7 %

The company has a market cap of $180.15 billion, a P/E ratio of 395.42, a PEG ratio of 10.18 and a beta of 2.87. The firm’s 50 day moving average is $62.94 and its two-hundred day moving average is $42.29.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm 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 business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,361,841 shares of company stock valued at $1,563,283,006. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. increased its stake in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $639,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.