Palantir Technologies (NASDAQ:PLTR) Stock Price Down 4.9% on Analyst Downgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) dropped 4.9% during trading on Thursday after Loop Capital lowered their price target on the stock from $141.00 to $125.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as low as $78.57 and last traded at $79.59. 42,162,712 shares changed hands during trading, a decline of 34% from the average session volume of 64,322,973 shares. The stock had previously closed at $83.65.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, DA Davidson raised their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.45.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,069,785 shares of company stock worth $254,537,238. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently bought and sold shares of the stock. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $31,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 8.3 %

The company has a market cap of $202.26 billion, a PE ratio of 453.92, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average is $87.83 and its two-hundred day moving average is $64.98.

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.