Palantir Technologies (NASDAQ:PLTR) Trading Down 0.1% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded down 0.1% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $116.80 and last traded at $117.84. 28,502,781 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 81,605,859 shares. The stock had previously closed at $117.91.

Specifically, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Down 0.3 %

The stock has a market capitalization of $267.84 billion, a PE ratio of 620.75, a P/E/G ratio of 11.44 and a beta of 2.81. The firm has a 50 day moving average of $81.05 and a two-hundred day moving average of $55.71.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently bought and sold shares of the company. Mather Group LLC. increased its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during 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 buying an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $3,233,000. Finally, State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% during 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 buying an additional 68,945 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.