Morgan Stanley Has Lowered Expectations for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target reduced by equities research analysts at Morgan Stanley from $95.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 4.20% from the stock’s current price.

Several other analysts have also recently issued reports on PLTR. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho boosted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $74.71.

Palantir Technologies Stock Down 4.5 %

NASDAQ:PLTR traded down $4.45 on Wednesday, reaching $93.95. 56,367,449 shares of the company’s stock were exchanged, compared to its average volume of 71,963,505. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $220.35 billion, a price-to-earnings ratio of 494.50, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The business has a fifty day moving average of $92.38 and a 200-day moving average of $73.83.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock valued at $253,328,090 in the last three months. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC lifted its position in shares of 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 buying an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $31,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.