Palantir Technologies (NASDAQ:PLTR) Stock Price Down 11.4% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 11.4% on Thursday . The company traded as low as $95.80 and last traded at $99.33. 126,236,847 shares were traded during mid-day trading, an increase of 47% from the average session volume of 86,064,367 shares. The stock had previously closed at $112.06.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Down 4.6 %

The stock has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company’s 50-day simple moving average is $85.87 and its 200-day simple moving average is $59.37.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies 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 completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,680,992 shares of company stock valued at $473,395,877. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Continuum Advisory LLC boosted its holdings 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 acquiring an additional 98 shares during the period. Heritage Wealth Management Inc. CA boosted its stake in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC grew its holdings in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after buying an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its position in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds 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.