Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $367,920,000.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shyam Sankar also recently made the following trade(s):

• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00.

Palantir Technologies Trading Up 2.9 %

Palantir Technologies stock opened at $71.87 on Friday. The company has a market cap of $163.72 billion, a P/E ratio of 359.35, a price-to-earnings-growth ratio of 9.59 and a beta of 2.87. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $72.98. The company has a fifty day simple moving average of $51.46 and a 200 day simple moving average of $36.20.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the period. Tyler Stone Wealth Management grew its position in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the period. Finally, Boston Family Office LLC grew its position in shares of Palantir Technologies by 48.0% in the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,000 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLTR. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday. DA Davidson increased their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Wedbush increased their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.