Palantir Technologies (NASDAQ:PLTR) Shares Gap Down – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $112.06, but opened at $102.91. Palantir Technologies shares last traded at $100.85, with a volume of 84,688,050 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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 research report on Tuesday, February 4th. DA Davidson raised their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Northland Securities lifted their target price 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. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.21.

Palantir Technologies Trading Down 4.6 %

The business’s 50 day moving average price is $85.87 and its two-hundred day moving average price is $59.37. The stock has a market cap of $230.84 billion, a P/E ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the sale, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,680,992 shares of company stock valued at $473,395,877 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its stake in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC raised its holdings in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its holdings in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares in the last quarter. 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.