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

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $95.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential downside of 4.03% from the company's current price.

PLTR has been the subject of several other research reports. Cantor Fitzgerald boosted their price objective 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. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Citigroup boosted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Five research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Trading Up 1.2 %

Shares of Palantir Technologies stock traded up $1.07 during trading on Wednesday, reaching $93.78. The company's stock had a trading volume of 83,698,348 shares, compared to its average volume of 72,859,837. Palantir Technologies has a one year low of $20.36 and a one year high of $125.41. The stock has a 50-day moving average price of $91.18 and a two-hundred day moving average price of $75.01. The stock has a market capitalization of $219.95 billion, a P/E ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company's stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock worth $253,328,090 in the last quarter. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. grew its position in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Palantir Technologies during the fourth quarter worth approximately $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.