Palantir Technologies (NASDAQ:PLTR) Trading Down 1.4% – Here’s What Happened

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 1.4% during trading on Tuesday . The company traded as low as $95.08 and last traded at $95.39. 35,257,297 shares were traded during trading, a decline of 64% from the average session volume of 98,681,977 shares. The stock had previously closed at $96.75.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLTR shares. Bank of America increased their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note 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. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Robert W. Baird upped their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $74.45.

Palantir Technologies Price Performance

The stock’s 50-day moving average is $90.19 and its two-hundred day moving average is $67.91. The company has a market cap of $224.62 billion, a P/E ratio of 504.89, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % 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, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock worth $281,528,938. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Finally, FMR LLC lifted its holdings in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in 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.