Palantir Technologies (NASDAQ:PLTR) Shares Down 2.1% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price fell 2.1% on Thursday . The company traded as low as $87.29 and last traded at $90.09. Approximately 39,202,216 shares traded hands 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.

Analyst Ratings Changes

Several brokerages have commented on PLTR. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. DA Davidson increased their price objective 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. Finally, Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Price Performance

The firm has a market capitalization of $207.68 billion, a P/E ratio of 466.08, a PEG ratio of 10.84 and a beta of 2.74. The firm’s 50 day moving average is $92.81 and its two-hundred day moving average is $73.02.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last quarter. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $31,000. Institutional investors and hedge funds 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.