Ryan D. Taylor Sells 98,177 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Palantir Technologies Stock Down 11.5 %

Shares of NASDAQ:PLTR opened at $74.01 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market cap of $173.58 billion, a P/E ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. The business has a fifty day moving average of $92.67 and a two-hundred day moving average of $70.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the 3rd 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 raised its position in shares of Palantir Technologies by 8.6% during 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 lifted its holdings in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. Finally, FMR LLC increased its stake in Palantir Technologies by 22.6% during 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.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald upped their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, DA Davidson increased their target price 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, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.19.

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.