Palantir Technologies (NASDAQ:PLTR) Trading Down 2.1% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) dropped 2.1% on Monday . The company traded as low as $77.41 and last traded at $78.88. Approximately 41,313,232 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 61,474,996 shares. The stock had previously closed at $80.55.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday. They set a “neutral” rating and a $80.00 target price for the company. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.00.

Palantir Technologies Stock Down 0.2 %

The firm’s fifty day moving average price is $59.06 and its 200-day moving average price is $40.51. The stock has a market cap of $183.15 billion, a P/E ratio of 402.02, a PEG 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, topping analysts’ consensus estimates 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 net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the transaction, the director now owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,605,711 shares of company stock valued at $1,867,088,271 in the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Principal Financial Group Inc. lifted its position in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Palantir Technologies by 26.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock valued at $8,116,000 after acquiring an additional 44,768 shares during the period. Retirement Systems of Alabama bought a new stake in Palantir Technologies during the third quarter worth about $16,372,000. Finally, Oddo BHF Asset Management Sas bought a new stake in Palantir Technologies during the third quarter worth about $631,000. 45.65% of the stock is currently owned by institutional investors.

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.