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

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 1.5% during mid-day trading on Friday . The company traded as low as $129.05 and last traded at $132.38. Approximately 31,596,931 shares traded hands during trading, a decline of 33% from the average daily volume of 46,930,371 shares. The stock had previously closed at $134.44.

Palantir Technologies News Summary

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Analysts Set New Price Targets

Several research firms have commented on PLTR. DZ Bank assumed coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective for the company. Royal Bank Of Canada restated an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. President Capital upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.50 to $133.00 in a research note on Monday, June 29th. Phillip Securities raised their price target on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and an average target price of $190.85.

Palantir Technologies Stock Down 1.5%

The business has a 50-day moving average price of $132.30 and a 200-day moving average price of $144.38. The firm has a market capitalization of $317.36 billion, a price-to-earnings ratio of 148.74, a P/E/G ratio of 2.14 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the sale, the insider owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,112,270 shares of company stock worth $150,247,785. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares in the last quarter. State Street Corp boosted its position in Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC boosted its position in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after acquiring an additional 805,047 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter valued at about $5,149,641,000. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after acquiring an additional 616,297 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.