Palantir Technologies (NASDAQ:PLTR) Trading Down 1.3% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares dropped 1.3% during trading on Monday . The stock traded as low as $91.45 and last traded at $92.52. Approximately 35,435,492 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 72,722,617 shares. The stock had previously closed at $93.78.

Analyst Ratings Changes

PLTR has been the topic of several recent research reports. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. DA Davidson reduced their price objective on shares of Palantir Technologies from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $74.71.

Palantir Technologies Stock Performance

The company’s 50 day simple moving average is $91.18 and its 200-day simple moving average is $75.26. The firm has a market capitalization of $211.88 billion, a PE ratio of 475.50, a PEG ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 directly owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC lifted its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $31,000. 45.65% of the stock is 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.