Why Palantir Stock Is Dropping Today

Palantir Technologies Inc. PLTR shares are trading lower Thursday after Morgan Stanley downgraded the stock from Equal-Weight to Underweight but raised its price target from $8 to $9.

The Details:

Morgan Stanley analyst Keith Weiss downgraded Palantir from Equal-Weight to Underweight, while raising the price target from $8 to $9 on Thursday.

Palantir shares are moving lower on heavy trading volume. According to Benzinga Pro, more than 58.3 million shares have already been traded in the session. compared to the stock's 100-day average of 77.296 million shares.

According to data from Benzinga, Palantir CEO, Alexander Karp, sold $10.99 million worth of Palantir stock options on Aug. 22 and Aug. 23.

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PLTR Price Action: According to Benzinga Pro, shares of PLTR are down more than 8% at $14.92 at the time of publication.

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