Palantir Technologies (NASDAQ:PLTR) Trading Down 2.1% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 2.1% during trading on Wednesday . The stock traded as low as $92.84 and last traded at $94.45. 30,151,258 shares traded hands during trading, a decline of 55% from the average session volume of 66,273,912 shares. The stock had previously closed at $96.50.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLTR. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Finally, Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

The company’s 50-day moving average is $90.80 and its 200-day moving average is $68.37. The firm has a market capitalization of $216.55 billion, a price-to-earnings ratio of 485.73, a PEG ratio of 10.84 and a beta of 2.81.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC lifted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.