Morgan Stanley Cuts Palantir Technologies (NASDAQ:PLTR) Price Target to $90.00

Palantir Technologies (NASDAQ:PLTR) had its target price cut by Morgan Stanley from $95.00 to $90.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently commented on the company. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Loop Capital reiterated a “buy” rating on shares of Palantir Technologies in a research note on Friday, April 4th. Finally, Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $74.71.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $93.78 on Wednesday. The stock has a market cap of $219.95 billion, a price-to-earnings ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The firm has a 50-day moving average of $91.18 and a two-hundred day moving average of $74.75. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,989,975 shares of company stock worth $253,328,090. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC boosted its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA lifted its holdings 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 valued at $2,195,000 after acquiring an additional 111 shares during the period. True Wealth Design LLC boosted its position in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC grew its stake in shares of Palantir Technologies by 1.6% during the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock worth $639,000 after purchasing an additional 119 shares during the period. Finally, Westover Capital Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.