Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLTR. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Citigroup raised their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised 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. Finally, Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Price Performance

The company’s fifty day moving average is $83.91 and its 200-day moving average is $58.13. The stock has a market cap of $281.24 billion, a PE ratio of 648.28, a PEG ratio of 12.25 and a beta of 2.81.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 1,620,395 shares of Palantir Technologies stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. The trade was a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,301,387 shares of company stock valued at $575,821,045 over the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $28,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Hedge funds and other 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.