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

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price gapped down before the market opened 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 traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PLTR shares. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their price target 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. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Loop Capital dropped their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

The business’s 50-day simple moving average is $91.98 and its two-hundred day simple moving average is $69.53. The stock has a market cap of $196.28 billion, a price-to-earnings ratio of 440.91, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’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 sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last 90 days. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Mascagni Wealth Management Inc. acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $2,058,000. M1 Capital Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $394,000. Objective Capital Management LLC bought a new position in Palantir Technologies during the fourth quarter worth $216,000. Thoma Capital Management LLC bought a new position in Palantir Technologies during the fourth quarter worth $383,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $366,000. 45.65% of the stock is currently owned by 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.