Palantir Technologies (NASDAQ:PLTR) Shares Down 2.4% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 2.4% during trading on Friday . The company traded as low as $126.65 and last traded at $127.99. Approximately 35,098,160 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 47,575,191 shares. The stock had previously closed at $131.08.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. UBS Group raised their price target on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Phillip Securities raised their price target on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Trading Down 2.4%

The firm has a market cap of $306.83 billion, a P/E ratio of 143.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The business’s fifty day simple moving average is $139.54 and its 200-day simple moving average is $153.76.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. Analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey Buckley sold 830 shares of Palantir Technologies stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $137.41, for a total transaction of $114,050.30. Following the sale, the insider owned 61,707 shares of the company’s stock, valued at approximately $8,479,158.87. The trade was a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 925,789 shares of company stock worth $126,007,032. 9.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

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

Palantir Technologies Company Profile

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.