Palantir Technologies (NYSE:PLTR) Shares Down 0.2% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares were down 0.2% on Friday following insider selling activity. The stock traded as low as $72.92 and last traded at $73.03. Approximately 27,363,298 shares changed hands during trading, a decline of 54% from the average daily volume of 59,753,473 shares. The stock had previously closed at $73.20.

Specifically, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho increased their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $38.40.

Palantir Technologies Stock Up 3.9 %

The firm has a market capitalization of $173.29 billion, a P/E ratio of 380.35, a PEG ratio of 9.70 and a beta of 2.87. The business’s 50 day moving average is $55.75 and its 200-day moving average is $38.51.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLTR. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter worth $25,000. Prestige Wealth Management Group LLC increased 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 worth $27,000 after buying an additional 650 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.