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 Monday . The stock had previously closed at $85.85, but opened at $80.00. Palantir Technologies shares last traded at $82.50, with a volume of 21,333,639 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, 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. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $74.45.

Palantir Technologies Price Performance

The firm’s fifty day moving average is $91.98 and its two-hundred day moving average is $69.53. The firm has a market capitalization of $196.28 billion, a PE ratio of 440.91, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of the stock. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its stake 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 in the last quarter. Finally, HighMark Wealth Management LLC raised its position 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 valued at $30,000 after purchasing an additional 166 shares during the period. Hedge funds and other 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.