Palantir Technologies (NASDAQ:PLTR) Shares Down 9.3% – Time to Sell?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were down 9.3% during mid-day trading on Monday . The stock traded as low as $89.30 and last traded at $91.91. Approximately 86,583,114 shares traded hands during trading, a decline of 4% from the average daily volume of 90,536,453 shares. The stock had previously closed at $101.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PLTR shares. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Stock Up 1.7 %

The company has a market cap of $203.45 billion, a PE ratio of 470.08, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average price is $86.44 and its 200-day moving average price is $60.68.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock worth $477,414,743 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $180,000. Virtue Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $540,000. B. Riley Wealth Advisors Inc. lifted its stake in Palantir Technologies by 0.8% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 215,928 shares of the company’s stock worth $16,331,000 after purchasing an additional 1,771 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in Palantir Technologies by 8.0% in the fourth quarter. Integrated Advisors Network LLC now owns 32,795 shares of the company’s stock worth $2,480,000 after purchasing an additional 2,429 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter valued at $271,000. 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.