Palantir Technologies (NASDAQ:PLTR) Stock Price Down 6.1% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 6.1% during mid-day trading on Wednesday . The company traded as low as $123.45 and last traded at $124.57. 37,972,780 shares changed hands during trading, a decline of 18% from the average session volume of 46,576,508 shares. The stock had previously closed at $132.66.

Key Palantir Technologies News

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

• Positive Sentiment: Citi raised its revenue outlook, saying Palantir could benefit from a rebound in U.S. commercial momentum and stronger growth in 2027, which supports the long-term bull case for the stock.
• Positive Sentiment: Several recent commentaries highlighted Palantir’s strong free cash flow, rapid revenue growth, and expanding role as “mission-critical” AI infrastructure, reinforcing confidence in its operating strength.
• Positive Sentiment: Analysts continue to point to Palantir’s software platform and defense/commercial demand as reasons it could keep outperforming over time, despite the recent pullback.
• Neutral Sentiment: Investors are waiting for second-quarter earnings on Aug. 3, and options markets are pricing in a potentially large post-earnings move, making the stock more volatile in the near term.
• Neutral Sentiment: Coverage around the broader AI selloff and Palantir’s sharp year-to-date decline has kept sentiment mixed, with some investors viewing the drop as an opportunity while others see it as a warning sign.
• Negative Sentiment: Palantir has been pressured by concerns that its valuation is stretched after a huge run, especially as money moves out of expensive AI stocks ahead of earnings.
• Negative Sentiment: Fresh scrutiny of Palantir’s UK NHS data contract and reports of open-source competitors offering similar intelligence capabilities have added to investor worries about regulation and competition.

Analysts Set New Price Targets

Several brokerages recently commented on PLTR. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. UBS Group raised shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Wedbush assumed coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Palantir Technologies Stock Performance

The stock’s fifty day simple moving average is $131.77 and its 200-day simple moving average is $142.69. The stock has a market cap of $295.76 billion, a P/E ratio of 138.62, a P/E/G ratio of 1.99 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 company 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 posted $0.13 EPS. Palantir Technologies’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of the business’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 transaction of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 company’s stock in a transaction on Thursday, June 11th. The stock was 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 of the company’s stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last three months. Company insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Beaumont Financial Advisors LLC lifted its stake in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after purchasing an additional 59 shares during the last quarter. Transcend Capital Advisors LLC grew its stake 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 valued at $1,890,000 after buying an additional 60 shares during the last quarter. Monument Capital Management raised its holdings in shares of Palantir Technologies by 1.2% in the fourth quarter. Monument Capital Management now owns 5,341 shares of the company’s stock worth $949,000 after buying an additional 63 shares during the period. San Luis Wealth Advisors LLC lifted its stake 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 acquiring an additional 63 shares during the last quarter. Finally, CYBER HORNET ETFs LLC boosted its holdings in Palantir Technologies by 1.2% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 5,297 shares of the company’s stock valued at $966,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds 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.