Palantir Technologies (NASDAQ:PLTR) Stock Price Down 5.1% – Time to Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 5.1% during mid-day trading on Friday . The stock traded as low as $84.10 and last traded at $85.53. 38,552,195 shares were traded during mid-day trading, a decline of 42% from the average session volume of 66,680,323 shares. The stock had previously closed at $90.09.

Analyst Ratings Changes

A number of equities research analysts have commented on PLTR shares. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Loop Capital cut their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Stock Performance

The firm has a market capitalization of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s fifty day simple moving average is $91.98 and its 200-day simple moving average is $69.28.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the business. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.