Palantir Technologies (NASDAQ:PLTR) Shares Down 2.8% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price fell 2.8% during trading on Wednesday . The stock traded as low as $112.25 and last traded at $113.4750. 45,383,167 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 47,355,488 shares. The stock had previously closed at $116.70.

More Palantir Technologies News

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

• Positive Sentiment: Palantir is rebounding as software stocks recover and investors rotate away from semiconductors, helping it try to snap a lengthy losing streak. Palantir Stock Rises As Software Sector Rallies Amid Semiconductor Sell-Off
• Positive Sentiment: ARK Invest bought about $3.3 million of Palantir shares, which traders are reading as a vote of confidence after the stock’s sharp drop. Palantir New Deal Gets Bullish Views From 5-Star AnalystTake
• Positive Sentiment: Analysts remain constructive on Palantir’s AI and enterprise growth potential, with Wedbush arguing investors are underestimating the company’s long-term value. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New partnerships with Zeta Global and continued U.S. Army demand are being cited as fresh growth catalysts that could support future revenue. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Neutral Sentiment: Multiple market watchers say Palantir is deeply oversold, which may support a technical bounce, but it also reflects how much momentum has already been lost. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Some bullish commentary says the pullback has made Palantir more attractive, but these pieces mainly frame the stock as a possible dip-buy rather than a confirmed turnaround. Palantir’s ‘Too Expensive’ Excuse No Longer Valid at 52-Week Lows: Here’s Why I Am Buying PLTR Stock
• Negative Sentiment: Palantir is still under pressure from a broader AI selloff, with investors demanding stronger earnings and clearer returns on AI spending before paying premium valuations again. The AI Selloff Is Getting Brutal: 10 Tech Giants Already Deep in Bear Market Territory
• Negative Sentiment: Despite the bounce, the stock remains far below recent highs and has been one of 2026’s hardest-hit AI names, with valuation concerns and competition fears still weighing on sentiment. Palantir Shares Fight to Snap a Long Slump after Falling 39% This Year on Higher AI Competition

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Phillip Securities boosted their target price on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 price objective on shares of Palantir Technologies in a research note on Friday, May 22nd. BNP Paribas Exane began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an “underperform” rating on the stock. Finally, Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Palantir Technologies Trading Up 5.6%

The company has a market capitalization of $271.44 billion, a PE ratio of 127.22, a price-to-earnings-growth ratio of 1.80 and a beta of 1.53. The business’s 50-day simple moving average is $136.55 and its 200-day simple moving average is $150.70.

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

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 397,744 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was 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 owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 927,270 shares of company stock valued at $126,197,785 in the last 90 days. 9.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PLTR. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after buying an additional 1,557,828 shares in the last quarter. State Street Corp increased its holdings in Palantir Technologies by 1.1% in the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after buying an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 1.5% in 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 during the period. Norges Bank acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $5,149,641,000. Finally, Invesco Ltd. boosted its stake in shares of Palantir Technologies by 2.8% during the 4th 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. 45.65% of the stock is 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.