Palantir Technologies (NYSE:PLTR) Stock Price Down 0.8% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares were down 0.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $68.07 and last traded at $70.34. Approximately 45,275,619 shares traded hands during trading, a decline of 24% from the average daily volume of 59,640,852 shares. The stock had previously closed at $70.89.

Specifically, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Bank of America raised their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Price Performance

The company has a market capitalization of $160.51 billion, a P/E ratio of 351.70, a PEG ratio of 10.29 and a beta of 2.87. The company has a 50 day moving average of $53.65 and a 200-day moving average of $37.52.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company earned $0.03 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter worth $30,000. Institutional investors own 45.65% of the company’s stock.

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.