Palantir Technologies (NYSE:PLTR) Stock Price Down 0.8% – Time to Sell?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was down 0.8% on Monday . The stock traded as low as $66.08 and last traded at $66.57. Approximately 21,003,231 shares traded hands during trading, a decline of 64% from the average daily volume of 58,534,797 shares. The stock had previously closed at $67.08.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Mizuho lifted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Finally, Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Stock Up 6.9 %

The firm has a market cap of $161.65 billion, a PE ratio of 354.82, a price-to-earnings-growth ratio of 8.98 and a beta of 2.87. The stock has a 50 day moving average price of $50.11 and a two-hundred day moving average price of $35.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,423,181 shares of company stock valued at $1,972,588,658 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the company. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after buying an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC boosted its holdings in Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC boosted its holdings in Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after buying an additional 250 shares during the last quarter. Truvestments Capital LLC boosted its holdings in Palantir Technologies by 2.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after buying an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc boosted its holdings in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after buying an additional 300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.