Palantir Technologies (NASDAQ:PLTR) Shares Gap Down – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Up 0.3 %

The stock has a market capitalization of $198.60 billion, a price-to-earnings ratio of 445.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average is $92.47 and its two-hundred day moving average is $70.22.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly 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. Over the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.