Palantir Technologies (NYSE:PLTR) Trading Down 0.9% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s share price traded down 0.9% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $36.38 and last traded at $36.55. 17,679,189 shares traded hands during trading, a decline of 69% from the average session volume of 57,404,324 shares. The stock had previously closed at $36.90.

Specifically, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLTR. Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Citigroup upped their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Down 0.6 %

The stock has a market cap of $82.59 billion, a PE ratio of 305.94 and a beta of 2.72. The business’s 50-day simple moving average is $31.27 and its 200-day simple moving average is $26.23.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the business posted $0.01 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners LLC boosted its holdings in shares of Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after buying an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after purchasing an additional 228,428 shares during the period. Norges Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $46,542,000. PNC Financial Services Group Inc. lifted its holdings in shares of Palantir Technologies by 11.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after purchasing an additional 5,759 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Palantir Technologies by 7.6% in the 4th quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after purchasing an additional 11,284 shares in the last quarter. 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.