Palantir Technologies (NASDAQ:PLTR) Shares Down 2.4% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 2.4% during mid-day trading on Monday . The stock traded as low as $76.11 and last traded at $77.16. 23,940,300 shares were traded during mid-day trading, a decline of 61% from the average session volume of 61,567,711 shares. The stock had previously closed at $79.08.

Wall Street Analyst Weigh In

Several analysts have commented on PLTR shares. DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird started coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Down 0.6 %

The firm has a 50 day simple moving average of $62.94 and a 200-day simple moving average of $42.55. The stock has a market cap of $179.01 billion, a P/E ratio of 392.92, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,180,723 shares of company stock worth $1,408,957,941. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the second quarter valued at about $25,000. Creekmur Asset Management LLC lifted its position in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in Palantir Technologies by 47.5% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after buying an additional 380 shares in the last quarter. 45.65% of the stock is currently 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.