Palantir Technologies (NASDAQ:PLTR) Trading Down 5.1% – Time to Sell?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 5.1% during trading on Friday . The company traded as low as $84.10 and last traded at $85.53. 38,552,195 shares were traded during mid-day trading, a decline of 42% from the average session volume of 66,680,323 shares. The stock had previously closed at $90.09.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Trading Down 5.7 %

The company has a market cap of $199.23 billion, a PE ratio of 445.38, a P/E/G ratio of 10.84 and a beta of 2.81. The company’s 50 day moving average is $91.70 and its 200 day moving average is $68.69.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last quarter. 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 PLTR. Mather Group LLC. raised its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies in the 4th quarter worth approximately $3,233,000. Coldstream Capital Management Inc. purchased a new position in Palantir Technologies during the 3rd quarter worth approximately $639,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $11,769,000. 45.65% of the stock is currently 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.