Morgan Stanley Cuts Palantir Technologies (NASDAQ:PLTR) Price Target to $90.00

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target cut by research analysts at Morgan Stanley from $95.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential downside of 4.03% from the stock's previous close.

Several other brokerages have also recently issued reports on PLTR. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Northland Securities boosted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Jefferies Financial Group increased 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. Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $74.71.

Palantir Technologies Stock Performance

PLTR stock traded up $1.07 during trading on Wednesday, hitting $93.78. 83,698,348 shares of the company traded hands, compared to its average volume of 72,726,928. The company has a 50-day moving average of $91.18 and a 200-day moving average of $74.75. The firm has a market capitalization of $219.95 billion, a PE ratio of 493.60, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Company insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mayfair Advisory Group LLC increased its holdings in shares of Palantir Technologies by 30.1% in the first quarter. Mayfair Advisory Group LLC now owns 15,020 shares of the company's stock worth $1,268,000 after purchasing an additional 3,472 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Palantir Technologies by 14.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 8,366 shares of the company's stock valued at $706,000 after acquiring an additional 1,039 shares during the last quarter. Mezzasalma Advisors LLC grew its holdings in shares of Palantir Technologies by 108.1% in the first quarter. Mezzasalma Advisors LLC now owns 8,802 shares of the company's stock valued at $743,000 after purchasing an additional 4,572 shares in the last quarter. Clarius Group LLC increased its position in Palantir Technologies by 119.4% in the first quarter. Clarius Group LLC now owns 10,084 shares of the company's stock worth $851,000 after purchasing an additional 5,488 shares during the last quarter. Finally, Optivise Advisory Services LLC purchased a new stake in Palantir Technologies during the first quarter valued at $279,000. 45.65% of the stock is currently owned by 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.