Palantir Technologies (NASDAQ:PLTR) Shares Down 5.7% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) was down 5.7% during mid-day trading on Thursday . The company traded as low as $84.21 and last traded at $85.04. Approximately 44,552,393 shares traded hands during trading, a decline of 31% from the average daily volume of 64,177,865 shares. The stock had previously closed at $90.13.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Price Performance

The firm has a market capitalization of $190.52 billion, a PE ratio of 425.33, a P/E/G ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average is $87.34 and its two-hundred day moving average is $62.79.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,439,783 shares of company stock worth $107,497,043 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Mather Group LLC. boosted its stake in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $3,233,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the period. 45.65% of the stock is currently owned by hedge funds and other 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.