Palantir Technologies (NASDAQ:PLTR) Stock Price Down 11.4% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 11.4% on Thursday . The stock traded as low as $95.80 and last traded at $99.33. 126,236,847 shares changed hands during trading, an increase of 47% from the average session volume of 86,064,367 shares. The stock had previously closed at $112.06.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup lifted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, UBS Group boosted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Price Performance

The stock has a market cap of $234.03 billion, a PE ratio of 540.85, a PEG ratio of 12.81 and a beta of 2.81. The company has a 50 day moving average price of $84.70 and a two-hundred day moving average price of $58.51.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company’s 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 sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,301,387 shares of company stock worth $575,821,045. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTR. State Street Corp increased its position in Palantir Technologies by 96.4% in the third 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 in the last quarter. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Hedge funds and other 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.