Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 1.7% during trading on Thursday . The company traded as low as $125.01 and last traded at $128.47. 53,972,737 shares traded hands during trading, an increase of 14% from the average daily volume of 47,288,750 shares. The stock had previously closed at $130.63.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Recent coverage says Palantir’s AIP platform is still accelerating U.S. commercial growth, with rising revenue, more customers, and larger contract wins. Palantir’s AIP Momentum Continues to Transform U.S. Commercial Growth
• Positive Sentiment: Wolfe Research upgraded PLTR to Peer Perform, saying its AI platform, ontology, and forward-deployed engineers give it a strong position in enterprise AI. Is Palantir Technologies Inc. (PLTR) Becoming the Face of Applied Enterprise AI?
• Positive Sentiment: Several bullish articles argue Palantir’s growth remains unusually strong and that the stock may still be compelling for long-term investors despite its premium valuation. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’
• Neutral Sentiment: Market commentary also notes Palantir remains a highly watched AI leader, with some investors rotating into ETFs instead of individual AI names as volatility picks up. The AI Trade Is Getting Harder to Pick, But These 3 ETFs Take a Different Route (PLTR)
• Negative Sentiment: PLTR slipped below a closely watched technical support area, which can encourage short-term selling if buyers do not step in soon. Palantir stock slips below a crucial technical price: here’s why
• Negative Sentiment: New reports of insider selling and a “monster insider trading alert” are pressuring sentiment, adding to concerns that insiders may be taking profits after the stock’s big run. Monster insider trading alert for Palantir (PLTR) stock
• Negative Sentiment: European headlines are also a drag: a Swiss legal loss and France ending work with Palantir’s intelligence agency customer reinforce sovereignty and contract-risk concerns overseas. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe

Analyst Ratings Changes

Several brokerages recently issued reports on PLTR. Royal Bank Of Canada reiterated an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. DA Davidson cut their price target on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $138.00 price target on shares of Palantir Technologies in a report on Friday, May 22nd. Wolfe Research raised shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday. Finally, Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Stock Down 1.7%

The firm has a market capitalization of $307.98 billion, a P/E ratio of 144.35, a P/E/G ratio of 2.11 and a beta of 1.53. The stock has a fifty day moving average of $138.61 and a 200-day moving average of $153.02.

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

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the transaction, the director owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. 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. Insiders sold 927,270 shares of company stock valued at $126,197,785 over the last ninety days. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the business. Bare Financial Services Inc increased its position in shares of Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. Beaumont Financial Advisors LLC boosted its position in Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after purchasing an additional 59 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after purchasing an additional 60 shares in the last quarter. Sandbox Financial Partners LLC grew its stake in Palantir Technologies by 1.3% in the fourth 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 in the last quarter. Finally, San Luis Wealth Advisors LLC increased its position in shares of Palantir Technologies by 1.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after purchasing an additional 63 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.