Palantir Technologies (NASDAQ:PLTR) Trading Down 3% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price was down 3% during trading on Wednesday . The company traded as low as $131.63 and last traded at $132.51. Approximately 33,406,478 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 48,033,641 shares. The stock had previously closed at $136.60.

More Palantir Technologies News

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

• Negative Sentiment: Bearish commentary argued Palantir’s valuation is hard to justify after a massive rally, suggesting the stock may have gotten ahead of fundamentals. ‘This Can’t Be Justified,’ Says Investor About Palantir Stock
• Negative Sentiment: Another report warned that AI market expectations may be unrealistic, which could weigh on sentiment toward Palantir as a high-profile AI beneficiary. Nvidia and Palantir Have a $120 Billion Warning for Wall Street That Investors Simply Can’t Ignore
• Negative Sentiment: Insider selling also appears to be pressuring the stock, with reports that Palantir insiders sold more than $43 million in shares. Palantir Technologies Insiders Dump Shares Worth Over $43 Million
• Negative Sentiment: Headlines about CEO Alex Karp continuing to sell stock may add to investor concern around insider confidence. Palantir (PLTR) CEO Alex Karp Continues to Sell Company Stock
• Neutral Sentiment: Some analysts and bullish articles still point to accelerating demand for Palantir’s AI Platform, strong government and enterprise adoption, and potential upside if growth remains durable. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Neutral Sentiment: Other coverage framed PLTR as a top high-growth tech name and an AI-first software leader, but these pieces were largely list-style commentary rather than company-specific catalysts. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?

Analyst Ratings Changes

Several brokerages recently commented on PLTR. Royal Bank Of Canada reiterated an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 target price on shares of Palantir Technologies in a report on Friday, May 22nd. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Loop Capital dropped their target price on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Mizuho dropped their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Stock Down 3.0%

The business’s 50 day moving average is $142.26 and its 200-day moving average is $156.67. The firm has a market cap of $317.67 billion, a P/E ratio of 148.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates 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 was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, insider David A. Glazer sold 17,128 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the transaction, the insider owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. The trade was a 8.96% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 922,524 shares of company stock worth $125,501,302. 9.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLTR. Bare Financial Services Inc grew its position in shares of Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares in the last quarter. Basepoint Wealth LLC bought a new position in Palantir Technologies during the 4th quarter worth $29,000. Morton Brown Family Wealth LLC grew its stake in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC bought a new position in Palantir Technologies during the 4th quarter worth $31,000. Finally, United Financial Planning Group LLC bought a new position in Palantir Technologies during the 3rd quarter worth $32,000. 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.