Palantir Technologies (NASDAQ:PLTR) Shares Down 1.5% – Should You Sell?

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

Key Stories Impacting Palantir Technologies

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. DA Davidson reiterated a “buy” rating and set a $175.00 price target on shares of Palantir Technologies in a report on Friday. Wedbush assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating on the stock. UBS Group raised shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Finally, President Capital upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $190.85.

Palantir Technologies Stock Down 1.5%

The stock has a market capitalization of $317.36 billion, a PE ratio of 148.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.56. The stock has a fifty day moving average of $132.30 and a 200-day moving average of $144.38.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.54 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the transaction, the director directly owned 55,022 shares of the company’s stock, valued at $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,112,270 shares of company stock valued at $150,247,785 over the last 90 days. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLTR. Beaumont Financial Advisors LLC lifted its position in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after acquiring an additional 59 shares during the last quarter. Transcend Capital Advisors LLC increased its position in shares of Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock worth $1,890,000 after purchasing an additional 60 shares in the last quarter. Sandbox Financial Partners LLC lifted its holdings in shares of Palantir Technologies by 1.3% in the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock valued at $873,000 after purchasing an additional 61 shares during the last quarter. San Luis Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 1.6% in the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after purchasing an additional 63 shares during the last quarter. Finally, Monument Capital Management boosted its position in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after purchasing an additional 63 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.