Palantir Technologies (NASDAQ:PLTR) Shares Down 0.1% - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price fell 0.1% during trading on Wednesday . The stock traded as low as $121.58 and last traded at $124.50. 26,947,076 shares changed hands during trading, a decline of 67% from the average session volume of 81,132,109 shares. The stock had previously closed at $124.62.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLTR. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Wedbush raised their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Finally, 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 report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $73.21.

Palantir Technologies Stock Performance

The company has a fifty day moving average of $85.36 and a two-hundred day moving average of $58.84. The firm has a market capitalization of $235.26 billion, a price-to-earnings ratio of 543.40, a PEG ratio of 11.52 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company's stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,680,992 shares of company stock worth $473,395,877 in the last 90 days. Company insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC lifted its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. 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.