Palantir Technologies (NASDAQ:PLTR) Trading Down 1.7% – Here’s What Happened

by · The Markets Daily

Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) shares dropped 1.7% during trading on Wednesday . The stock traded as low as $177.25 and last traded at $177.75. Approximately 22,175,862 shares were traded during trading, a decline of 71% from the average daily volume of 77,455,680 shares. The stock had previously closed at $180.84.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLTR. Morgan Stanley increased their price target on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Northland Securities raised their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $172.28.

View Our Latest Research Report on PLTR

Palantir Technologies Stock Down 1.7%

The company’s 50 day moving average price is $181.21 and its two-hundred day moving average price is $168.77. The firm has a market cap of $423.66 billion, a PE ratio of 423.22, a P/E/G ratio of 7.14 and a beta of 1.50.

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, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s revenue was up 62.8% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,252 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $157.50, for a total value of $197,190.00. Following the sale, the insider owned 47,044 shares in the company, valued at $7,409,430. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,008,844 shares of company stock valued at $164,750,951. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLTR. Bare Financial Services Inc lifted its holdings in shares of Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Financial Consulate Inc. purchased a new position in Palantir Technologies during the 3rd quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at approximately $31,000. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter valued at $32,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies in the third quarter worth $32,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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