Palantir Technologies (NYSE:PLTR) Shares Down 0.8% – Should You Sell?

Palantir Technologies Inc. (NYSE:PLTR) was down 0.8% during trading on Monday . The company traded as low as $66.08 and last traded at $66.57. Approximately 21,003,231 shares changed hands during trading, a decline of 64% from the average daily volume of 58,534,797 shares. The stock had previously closed at $67.08.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Trading Down 1.0 %

The company’s 50-day moving average is $48.86 and its 200-day moving average is $35.05. The firm has a market cap of $151.28 billion, a price-to-earnings ratio of 332.85, a price-to-earnings-growth ratio of 9.07 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.19, for a total value of $200,799.50. Following the sale, the director now directly owns 158,280 shares in the company, valued at $5,253,313.20. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter worth $25,000. Finally, Creekmur Asset Management LLC grew its stake in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.