Palantir Technologies Shares Decline 0.5% – Key Insights

Palantir Technologies Inc. (NASDAQ:PLTR) experienced a minor decline in its share price, falling by 0.5% during trading on a recent Tuesday. The stock reached a low of $75.67 before closing at $76.80. During the trading day, a total of 20,001,207 shares changed hands, significantly lower than the average session volume of 61,553,973 shares. Previously, the stock had closed at $77.18.

Wall Street Analysts Provide Insights

Palantir has attracted attention from numerous research analysts. For instance, DA Davidson upgraded its target price for the company's shares from $28.00 to $47.00, assigning a “neutral” rating in a report issued on November 5. Meanwhile, UBS Group began its coverage of Palantir on December 19 with a “neutral” rating and a price target of $80.00. Conversely, Raymond James downgraded Palantir’s rating from “outperform” to “market perform” on September 23. Wedbush increased its price target from $57.00 to $75.00 while maintaining an “outperform” rating as of November 25. Additionally, William Blair reiterated an “underperform” rating on December 18. In total, six analysts have given the stock a sell rating, eleven have assigned a hold rating, and two have rated it as a buy. MarketBeat data indicates that the average rating for the stock is “Hold,” with an average price target of $41.00.

Understanding Palantir Technologies’ Price Movements

The stock's 50-day moving average stands at $64.29, while its 200-day moving average is $43.29. Palantir Technologies has a market capitalization of $172.29 billion, a price-to-earnings ratio of 378.17, a PEG ratio of 10.18, and a beta of 2.87.

Palantir recently reported its quarterly earnings results on November 4, where it disclosed earnings of $0.10 per share, surpassing the analysts' consensus estimate of $0.09 by $0.01. The company generated revenue of $725.52 million for the quarter, exceeding predictions of $705.11 million. Palantir’s year-over-year revenue growth was 30%, with a return on equity measured at 9.94% and a net margin of 18.01%. Analysts project that Palantir Technologies will post earnings of $0.21 per share for the current fiscal year.

Insider Transactions Involving Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir's stock on October 4 for an average price of $39.95, totaling $799,000. Post-transaction, she retained ownership of 562,006 shares, valued at roughly $22,452,139.70, representing a 3.44% decrease in her holdings. Another insider, Director Lauren Elaina Friedman Stat, sold 10,721 shares on December 6 at an average price of $76.78, realizing about $823,158.38 from the sale. Following this transaction, she still holds 100,923 shares, valued at approximately $7,748,867.94, which is a 9.60% decrease in her ownership. In the past ninety days, the total stock sold by insiders amounts to 23,180,723 shares, valued at $1,408,957,941, with insiders currently holding 12.93% of the total shares.

Institutional Holdings in Palantir Technologies

Recent adjustments by hedge funds regarding their Palantir stock holdings include Farmers & Merchants Investments Inc. which purchased a new stake in the second quarter valued at about $25,000, and Northwest Investment Counselors LLC acquiring a similar stake in the third quarter for approximately $25,000. Prestige Wealth Management Group LLC significantly increased its stake by 747.1% during the third quarter, owning 737 shares valued at $27,000 after acquiring an additional 650 shares. The University of Texas Texas AM Investment Management Co. also bought a new stake valued at roughly $30,000 in the second quarter. As a result, institutional investors and hedge funds now own about 45.65% of Palantir’s stock.

Overview of Palantir Technologies

Palantir Technologies, Inc. specializes in creating and deploying software platforms that serve as central operating systems for various sectors. The company operates through two primary segments: the Commercial segment focuses on non-government clients, while the Government segment caters to U.S. government and non-U.S. government entities.

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