Palantir Technologies (NASDAQ:PLTR) Shares Gap Down – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $74.01, but opened at $66.65. Palantir Technologies shares last traded at $68.16, with a volume of 25,747,162 shares.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Loop Capital reissued a “buy” rating on shares of Palantir Technologies in a report on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.19.

Palantir Technologies Trading Up 5.2 %

The stock’s fifty day simple moving average is $92.67 and its 200 day simple moving average is $71.18. The company has a market cap of $182.56 billion, a price-to-earnings ratio of 409.71, a P/E/G ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated 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 directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,993,175 shares of company stock valued at $253,549,610 over the last quarter. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. grew its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $3,233,000. Coldstream Capital Management Inc. acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at $639,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $11,769,000. 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.