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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 0.1% 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.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Wedbush lifted 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. Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group lifted 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. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

The business has a 50-day moving average price of $83.91 and a 200 day moving average price of $58.13. The stock has a market capitalization of $281.24 billion, a P/E 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 Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares in the company, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $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 sold a total of 8,301,387 shares of company stock worth $575,821,045 in the last three months. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.