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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. DA Davidson increased their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Five investment 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 a consensus price target of $74.45.

Palantir Technologies Stock Down 5.7 %

The stock has a market capitalization of $199.23 billion, a P/E ratio of 445.38, a PEG ratio of 10.84 and a beta of 2.81. The firm has a 50 day simple moving average of $91.70 and a two-hundred day simple moving average of $68.69.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $2,058,000. M1 Capital Management LLC bought a new stake in Palantir Technologies in the 4th quarter worth $394,000. Objective Capital Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $216,000. Thoma Capital Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $383,000. Finally, NorthCrest Asset Manangement LLC purchased a new stake in Palantir Technologies in the fourth quarter worth $366,000. 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.