Palantir Technologies Inc. (NASDAQ:PLTR) Insider Shyam Sankar Sells 30,000 Shares

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shyam Sankar also recently made the following trade(s):

• On Tuesday, December 3rd, Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00.
• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00.

Palantir Technologies Stock Down 10.5 %

Shares of PLTR stock opened at $90.68 on Tuesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The business has a fifty day simple moving average of $86.17 and a 200 day simple moving average of $60.27. The company has a market cap of $206.57 billion, a P/E ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital began coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA increased its holdings in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after buying an additional 111 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after buying an additional 114 shares in the last quarter. Westover Capital Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after acquiring an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.