Palantir Technologies (NYSE:PLTR) Shares Gap Down – Time to Sell?

Shares of Palantir Technologies Inc. (NYSE:PLTR) gapped down prior to trading on Tuesday . The stock had previously closed at $75.75, but opened at $73.28. Palantir Technologies shares last traded at $73.20, with a volume of 13,265,365 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLTR shares. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.40.

Palantir Technologies Price Performance

The firm has a fifty day moving average of $56.48 and a two-hundred day moving average of $39.01. The stock has a market capitalization of $169.14 billion, a P/E ratio of 371.70, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,612,366 shares of company stock valued at $1,867,342,292. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of the stock. Walter & Keenan Wealth Management LLC IN ADV increased its stake in Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC raised its stake in Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC lifted its position in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares during the period. Truvestments Capital LLC grew its stake in Palantir Technologies by 2.4% during the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after purchasing an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc increased its holdings in shares of Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.