<p><img src="https://static1.businessinsider.com/image/602d2db931eb0600197c3aa7-2400/Palantir.jpg" border="0" alt="Palantir" data-mce-source="Noam Galai/Getty Images" data-mce-caption="Palantir logo on New York Stock Exchange." data-link="https://www.gettyimages.com/detail/news-photo/person-wears-a-face-mask-outside-new-york-stock-exchange-as-news-photo/1277732630'adppopup=true"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Palantir stock sank as much as 14% on Friday continuing its downward spiral since hitting record highs of $39 per share on Jan 27.</p><p>The Denver-based big data firm is now down more than 45% in a little over a month.</p><p>Palantir's recent <a href="https://www.businessinsider.com/palantir-stock-price-analysis-lockup-expiration-cathie-wood-soros-fund-2021-2'utm_source=markets&utm_medium=ingest">lockup expiration</a> that released some 80% of the company's shares to trade on the open market led to <a href="https://www.businessinsider.com/palantir-stock-price-sinks-insider-selling-lockup-expiration-2021-2">significant insider sales</a> which have hurt the stock in recent weeks.</p><p>A <a href="https://www.businessinsider.com/palantir-stock-price-slides-after-posting-unexpected-4q-loss-2021-2'utm_source=markets&utm_medium=ingest">surprise quarterly loss</a> in the company's fourth-quarter earnings results released in mid-February didn't help either.</p><p>And now <a href="https://www.businessinsider.com/tech-stock-outlook-analysis-buy-dip-opportunity-upside-wedbush-2021-3">tech stocks are selling off</a> amid rising Treasury yields as investors rotate out of the highly valued tech sector to more cyclical value names in financials and energy.</p><p>Despite the negative news, some institutional investors are using the fall in share prices as a buying opportunity. Two of Cathie Wood's ARK exchange-traded funds <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-etfs-added-shares-palantir-stock-earnings-analysis-2021-3-1030150502">added over 2.6 million shares</a> of Palantir on Wednesday.</p><p>The purchase followed a February addition of some <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-etfs-palantir-stock-lockup-expiration-earnings-wsb-2021-2-1030102085'utm_source=markets&utm_medium=ingest">6.8 million shares</a> of the big data firm for Wood's ARK Innovation ETF and ARK Next Generation Internet ETF.</p><p>Palantir also continues to ink contracts with big names like <a href="https://www.businesswire.com/news/home/20210223005333/en/Palantir-and-3M-Expand-Relationship-to-Build-Dynamic-Supply-Chain">3M</a> and <a href="https://www.prnewswire.com/news-releases/ibm-and-palantir-partner-to-help-businesses-easily-deploy-powerful-and-open-ai-applications-unlock-valuable-data-across-hybrid-cloud-environments-301223657.html">IBM</a>.</p><p>On Friday the company signed yet another deal, this time <a href="https://twitter.com/PalantirTech/status/1367832200952086530">with Amazon Web Services</a> to provide Enterprise Resource Planning (ERP) systems "that enables rapid integration and analysis of data" for customers.</p><p>Goldman analysts argued Palantir's recent quarterly results showed signs of "sustainable growth" and <a href="https://www.businessinsider.com/palantir-stock-price-goldman-sachs-q4-earnings-analysis-2021-2">issued a "buy" rating and $34 price target</a> for the big data firm. The analysts noted the significant backlog of deals in their report, some of which we have seen go through over the last month.</p><p>Overall though, analysts have become <a href="https://markets.businessinsider.com/stocks/pltr-stock">increasingly bearish</a> on Palantir, often citing its stretched valuation. The company holds three "buy" ratings, three "neutral" ratings, and five "sell" ratings from analysts.</p><p><a href="https://markets.businessinsider.com/news/stocks/palantir-stock-price-falls-extending-slide-since-hitting-record-high-2021-3-1030155583#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/what-its-like-to-do-your-own-taxes-for-the-very-first-time-2018-2">July 15 is Tax Dayhere's what it's like to do your own taxes for the very first time</a></p>
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