Palantir Technologies (NASDAQ:PLTR) Trading Down 3.9% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) dropped 3.9% on Monday . The stock traded as low as $78.75 and last traded at $82.53. Approximately 43,885,416 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 67,908,202 shares. The stock had previously closed at $85.85.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Northland Securities boosted their target price 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. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Stock Down 2.1 %

The stock has a market capitalization of $197.14 billion, a P/E ratio of 442.80, a P/E/G ratio of 10.84 and a beta of 2.81. The firm has a fifty day moving average price of $91.98 and a two-hundred day moving average price of $69.53.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after acquiring an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA increased its position in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. True Wealth Design LLC raised its stake in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC lifted its position in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares in the last quarter. 45.65% of the stock is currently 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.