Palantir Technologies (NASDAQ:PLTR) Trading Down 4.5% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 4.5% during mid-day trading on Tuesday . The stock traded as low as $81.80 and last traded at $83.46. Approximately 36,475,951 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 64,867,665 shares. The stock had previously closed at $87.35.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. DA Davidson lifted their price objective on 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 increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird raised their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.45.

Palantir Technologies Trading Down 2.7 %

The company has a market capitalization of $199.27 billion, a PE ratio of 447.03, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50-day simple moving average is $88.06 and its two-hundred day simple moving average is $65.86.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction 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 transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,069,785 shares of company stock worth $254,537,238 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLTR. State Street Corp increased its stake 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% in 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 buying an additional 4,127,306 shares during the period. Northern Trust Corp grew its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Finally, FMR LLC lifted its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. 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.