Palantir Technologies (NASDAQ:PLTR) Stock Price Down 4.5% Following Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 4.5% on Friday after an insider sold shares in the company. The stock traded as low as $148.42 and last traded at $149.14. 32,715,772 shares were traded during trading, a decline of 64% from the average session volume of 90,594,602 shares. The stock had previously closed at $156.14.

Specifically, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at $8,000,877. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLTR. Loop Capital boosted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America lifted their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Tuesday, August 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.61.

Palantir Technologies Trading Down 1.9%

The stock has a market capitalization of $363.23 billion, a P/E ratio of 510.38, a PEG ratio of 8.80 and a beta of 2.59. The company has a fifty day simple moving average of $157.00 and a two-hundred day simple moving average of $124.64.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V. M. Manning & CO. Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $546,000. Beacon Capital Management Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $41,000. American Trust acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $226,000. Evolution Wealth Management Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $67,000. Finally, Centaurus Financial Inc. grew its position in shares of Palantir Technologies by 36.3% during the 2nd quarter. Centaurus Financial Inc. now owns 39,538 shares of the company’s stock worth $5,390,000 after buying an additional 10,539 shares during the period. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.