Palantir Technologies (NASDAQ:PLTR) Trading Down 1.4% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) shares fell 1.4% during trading on Tuesday . The stock traded as low as $95.08 and last traded at $95.39. 35,257,297 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 98,681,977 shares. The stock had previously closed at $96.75.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital decreased their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Price Performance

The stock has a market cap of $224.62 billion, a PE ratio of 504.89, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business has a 50 day moving average price of $90.19 and a two-hundred day moving average price of $67.91.

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 that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 in the last quarter. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLTR. Mather Group LLC. increased its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares during the period. Diversify Wealth Management LLC bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $3,233,000. Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $639,000. Finally, Boston Family Office LLC lifted its stake in shares of Palantir Technologies by 48.0% in the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,000 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.