Palantir Technologies (NASDAQ:PLTR) Shares Gap Down – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares gapped down before the market opened on Monday . The stock had previously closed at $85.85, but opened at $80.00. Palantir Technologies shares last traded at $82.50, with a volume of 21,333,639 shares.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. UBS Group upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 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, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $75.19.

Palantir Technologies Price Performance

The firm has a market capitalization of $198.60 billion, a PE ratio of 445.71, a P/E/G ratio of 10.84 and a beta of 2.81. The company has a 50-day moving average price of $92.47 and a 200-day moving average price of $70.22.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $51,545.44. This represents a 99.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the period. Heritage Wealth Management Inc. CA lifted its holdings 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 worth $2,195,000 after buying an additional 111 shares during the last quarter. True Wealth Design LLC grew its position in shares of 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 acquiring an additional 114 shares in the last quarter. Westover Capital Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after acquiring an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC lifted its stake in 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 purchasing an additional 132 shares during the last quarter. 45.65% of the stock is 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.