Palantir Technologies (NASDAQ:PLTR) Trading Down 1.1% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) shares dropped 1.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $129.62 and last traded at $133.25. Approximately 29,924,008 shares traded hands during trading, a decline of 37% from the average daily volume of 47,321,457 shares. The stock had previously closed at $134.71.

Specifically, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the transaction, the insider directly owned 60,226 shares of the company’s stock, valued at approximately $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent research reports. DZ Bank initiated coverage on Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective on the stock. BTIG Research cut Palantir Technologies to a “neutral” rating in a research note on Tuesday. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and cut their target price for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Benchmark cut Palantir Technologies to a “hold” rating in a research note on Tuesday. Finally, Wolfe Research assumed coverage on Palantir Technologies in a research note on Tuesday. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

More Palantir Technologies News

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

• Positive Sentiment: Wolfe Research upgraded Palantir from Sell to Hold, and UBS reaffirmed its Buy rating, reinforcing the view that PLTR remains a leading enterprise AI software name with strong long-term growth potential. Here’s Why Wolfe Upgraded Palantir Stock (PLTR) to Hold, While UBS Reaffirmed a Buy Rating
• Positive Sentiment: Commentary continues to highlight Palantir’s rapid AI-driven revenue growth and its position as a key player in enterprise AI and security, keeping bullish sentiment supported. Palantir stock faces hidden AI risk after Google deal
• Positive Sentiment: Several recent reports frame the stock as potentially attractive for long-term investors because Palantir remains debt-free and has solid financial firepower to keep investing in AI growth. Palantir (PLTR): Debt-Free AI Growth Shows Why Its Software Story Still Has Financial Firepower
• Neutral Sentiment: One new article argues Palantir is fairly valued relative to some other AI names, which may temper enthusiasm but does not materially change the growth story. Palantir – There Are Some Fairly Valued AI Stocks
• Neutral Sentiment: Another report says Palantir is drawing heavy investor attention, but this mostly reflects ongoing market interest rather than a new fundamental catalyst. Palantir Technologies Inc. (PLTR) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Analysts also warned the stock may be overvalued after its AI rally, suggesting that valuation is becoming a bigger hurdle for further upside. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Negative Sentiment: Fresh headlines about Palantir ending work with French intelligence and a Swiss court defeat add to Europe-related political and data-sovereignty risk, which could weigh on sentiment. Update: Palantir Technologies to Stop Working With French Intelligence, PM Lecornu Says Palantir Swiss Court Defeat Raises European Data Sovereignty And Contract Risks

Palantir Technologies Stock Performance

The company has a 50-day simple moving average of $139.26 and a two-hundred day simple moving average of $153.49. The firm has a market capitalization of $319.44 billion, a P/E ratio of 149.72, a PEG ratio of 2.03 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share 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 analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $5,149,641,000. Jennison Associates LLC bought a new stake in Palantir Technologies during the 1st quarter valued at approximately $1,574,111,000. Vanguard Group Inc. boosted its position in Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after acquiring an additional 8,168,604 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Palantir Technologies by 277.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after acquiring an additional 7,678,747 shares in the last quarter. Finally, State Street Corp boosted its position in Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. 45.65% of the stock is owned by 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.