Palantir Technologies (NASDAQ:PLTR) Stock Price Down 3.9% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) was down 3.9% during trading on Monday . The stock traded as low as $78.75 and last traded at $82.53. Approximately 43,885,416 shares were traded during trading, a decline of 35% from the average daily volume of 67,908,202 shares. The stock had previously closed at $85.85.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLTR. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday. They set a “neutral” rating and a $90.00 target price on the stock. Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada upped their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Trading Up 0.3 %

The firm has a fifty day moving average of $92.47 and a two-hundred day moving average of $70.22. The company has a market cap of $198.60 billion, a PE ratio of 445.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Activity

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

Institutional Trading of Palantir Technologies

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

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.