Palantir Technologies (NASDAQ:PLTR) Shares Down 0.1% – Should You Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 0.1% on Wednesday . The company traded as low as $121.58 and last traded at $124.50. 26,947,076 shares traded hands during mid-day 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

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Wedbush upped their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Loop Capital started coverage on Palantir Technologies in a research note on Thursday. They issued a “buy” rating and a $141.00 target price for the company. Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group upped their target price 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 research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Price Performance

The company has a 50-day moving average price of $85.36 and a two-hundred day moving average price of $58.84. The company has a market cap of $230.84 billion, a PE ratio of 533.36, a P/E/G ratio of 11.52 and a beta of 2.81.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,680,992 shares of company stock valued at $473,395,877. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PLTR. State Street Corp lifted its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Institutional investors 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.