Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.5% – Here’s Why

by · The Cerbat Gem

Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s stock price dropped 1.5% during mid-day trading on Wednesday . The company traded as low as $181.21 and last traded at $187.90. Approximately 75,528,730 shares changed hands during trading, a decline of 9% from the average daily volume of 83,416,500 shares. The stock had previously closed at $190.74.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, August 5th. Morgan Stanley boosted their price target on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group boosted their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group boosted their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Palantir Technologies in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $169.44.

Read Our Latest Stock Analysis on PLTR

Palantir Technologies Stock Performance

The business has a 50-day moving average price of $176.35 and a 200 day moving average price of $152.68. The stock has a market capitalization of $445.76 billion, a P/E ratio of 447.39, a PEG ratio of 11.23 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 16.27% and a net margin of 28.11%.The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,527,750 shares of company stock worth $234,463,896. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares in the last quarter. State Street Corp raised its stake in Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after buying an additional 6,097,629 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 2nd quarter valued at $3,307,457,000. Invesco Ltd. raised its stake in Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after buying an additional 2,838,300 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after buying an additional 64,973 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

(Get Free Report)

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.

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