Palantir Technologies (NASDAQ:PLTR) Shares Down 0.5% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price dropped 0.5% on Monday . The stock traded as low as $78.47 and last traded at $82.08. Approximately 31,638,560 shares were traded during trading, a decline of 53% from the average daily volume of 66,695,633 shares. The stock had previously closed at $82.49.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Trading Up 1.1 %

The stock has a market cap of $189.94 billion, a price-to-earnings ratio of 417.15, a P/E/G ratio of 7.54 and a beta of 2.81. The firm’s 50-day moving average is $73.71 and its two-hundred day moving average is $51.00.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the business posted $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the company. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.