Palantir Technologies (NASDAQ:PLTR) Shares Down 5.1% - Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price fell 5.1% on Friday . The company traded as low as $84.10 and last traded at $85.53. 38,552,195 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 66,680,323 shares. The stock had previously closed at $90.09.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLTR shares. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Loop Capital cut their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $74.45.

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Palantir Technologies Trading Down 1.7 %

The company's 50-day moving average price is $91.98 and its two-hundred day moving average price is $69.53. The company has a market cap of $197.95 billion, a P/E ratio of 444.23, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at $51,545.44. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Continuum Advisory LLC increased its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its stake in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after buying an additional 114 shares during the last quarter. Westover Capital Advisors LLC grew its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after buying an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.