Palantir Technologies (NASDAQ:PLTR) Shares Down 7.4% Following Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) fell 7.4% during mid-day trading on Monday following insider selling activity. The stock traded as low as $77.52 and last traded at $78.60. 43,979,896 shares traded hands during trading, a decline of 31% from the average session volume of 63,691,134 shares. The stock had previously closed at $84.91.

Specifically, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

PLTR has been the topic of a number of research reports. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” 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 given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $74.79.

Palantir Technologies Price Performance

The stock has a fifty day simple moving average of $87.43 and a two-hundred day simple moving average of $63.71. The firm has a market capitalization of $184.36 billion, a P/E ratio of 414.77, a P/E/G ratio of 10.84 and a beta of 2.81.

Institutional Inflows and Outflows

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