Palantir Technologies (NASDAQ:PLTR) Stock Price Down 4.4% Following Insider Selling

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were down 4.4% during mid-day trading on Friday following insider selling activity. The company traded as low as $65.04 and last traded at $65.22. Approximately 33,648,114 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 75,437,453 shares. The stock had previously closed at $68.23.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLTR. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Down 1.4 %

The company has a market capitalization of $153.22 billion, a P/E ratio of 336.32, a P/E/G ratio of 10.18 and a beta of 2.82. The firm’s 50-day moving average price is $68.93 and its 200 day moving average price is $45.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS 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 during the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PLTR. Charles Schwab Investment Management Inc. grew its stake 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 worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management increased its stake in 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 buying an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $639,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.