Palantir Technologies (NASDAQ:PLTR) Trading Down 0.1% After Insider Selling

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) dropped 0.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $116.80 and last traded at $117.84. Approximately 28,502,781 shares were traded during trading, a decline of 65% from the average daily volume of 81,605,859 shares. The stock had previously closed at $117.91.

Specifically, 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 transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLTR. Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Wedbush increased their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Down 0.3 %

The company has a market cap of $267.84 billion, a PE ratio of 620.75, a P/E/G ratio of 11.44 and a beta of 2.81. The stock has a 50-day simple moving average of $81.05 and a 200 day simple moving average of $55.71.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC raised 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 during the period. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors 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.