Palantir Technologies (NYSE:PLTR) Stock Price Down 0.7% – Time to Sell?

by · The Cerbat Gem

Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Free Report) were down 0.7% during trading on Monday . The company traded as low as $42.67 and last traded at $42.67. Approximately 10,315,346 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 56,854,539 shares. The stock had previously closed at $42.97.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLTR shares. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Wedbush increased their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.86.

Get Our Latest Analysis on Palantir Technologies

Palantir Technologies Price Performance

The firm has a market cap of $95.69 billion, a PE ratio of 251.01 and a beta of 2.72. The stock has a 50 day simple moving average of $35.60 and a 200-day simple moving average of $28.13.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now directly owns 138,304 shares of the company’s stock, valued at $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Heather A. Planishek sold 20,000 shares of the company’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 owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,747,176 shares of company stock valued at $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in Palantir Technologies in the third quarter worth $62,000. Whittier Trust Co. lifted its stake in Palantir Technologies by 1.1% in the third quarter. Whittier Trust Co. now owns 57,526 shares of the company’s stock worth $2,140,000 after acquiring an additional 600 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter worth $25,000. Castleview Partners LLC raised its stake in shares of Palantir Technologies by 1,863.6% during the 3rd quarter. Castleview Partners LLC now owns 1,944 shares of the company’s stock worth $72,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Heritage Wealth Management Inc. CA acquired a new position in shares of Palantir Technologies during the third quarter worth $1,076,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

(Get Free Report)

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.

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