Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.7% - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price dropped 1.7% during trading on Monday . The stock traded as low as $111.64 and last traded at $110.82. Approximately 39,236,156 shares were traded during trading, a decline of 47% from the average daily volume of 74,078,683 shares. The stock had previously closed at $112.78.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Price Performance

The company's 50-day simple moving average is $89.34 and its two-hundred day simple moving average is $77.35. The firm has a market capitalization of $263.40 billion, a P/E ratio of 592.13, a P/E/G ratio of 10.84 and a beta of 2.74.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 in the last ninety days. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. increased its position in Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies in the fourth quarter worth about $3,233,000. Kieckhefer Group LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $11,769,000. Finally, Grange Capital LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $5,829,000. Institutional investors 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.

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