Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2.1% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 2.1% on Thursday . The company traded as low as $87.29 and last traded at $90.09. Approximately 39,202,216 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 70,585,968 shares. The stock had previously closed at $92.01.

Analysts Set New Price Targets

A number of research analysts have commented on PLTR shares. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Loop Capital reiterated a “buy” rating on shares of Palantir Technologies in a research report on Friday, April 4th. Finally, Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.19.

Palantir Technologies Price Performance

The company has a 50-day moving average of $93.02 and a two-hundred day moving average of $72.30. The company has a market capitalization of $209.32 billion, a PE ratio of 469.51, a P/E/G ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their position. The transaction 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 firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. purchased a new stake in Palantir Technologies in the third quarter worth $280,000. Wellington Management Group LLP increased its stake in Palantir Technologies by 3,106.8% in the 3rd quarter. Wellington Management Group LLP now owns 775,208 shares of the company’s stock worth $28,838,000 after buying an additional 751,034 shares during the period. EP Wealth Advisors LLC lifted its holdings in Palantir Technologies by 17.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 20,073 shares of the company’s stock valued at $747,000 after buying an additional 2,941 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Palantir Technologies by 5.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 61,273 shares of the company’s stock worth $2,279,000 after acquiring an additional 3,049 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Palantir Technologies by 15.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 627,347 shares of the company’s stock worth $23,337,000 after acquiring an additional 85,985 shares during the period. Institutional investors 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.