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

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $112.06, but opened at $102.91. Palantir Technologies shares last traded at $100.85, with a volume of 84,688,050 shares changing hands.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Six 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Stock Performance

The stock has a market cap of $230.84 billion, a PE ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81. The stock has a fifty day simple moving average of $85.87 and a two-hundred day simple moving average of $59.37.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,680,992 shares of company stock valued at $473,395,877 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.