Stephen Andrew Cohen Sells 416,053 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, 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 is available through the SEC website.

Stephen Andrew Cohen also recently made the following trade(s):

• On Wednesday, December 11th, Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00.

Palantir Technologies Stock Performance

PLTR opened at $76.07 on Friday. The business’s 50-day simple moving average is $55.75 and its 200 day simple moving average is $38.51. The firm has a market capitalization of $173.29 billion, a PE ratio of 380.35, a PEG ratio of 9.70 and a beta of 2.87. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $80.91.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Naples Global Advisors LLC lifted its stake in Palantir Technologies by 11.1% in the 2nd quarter. Naples Global Advisors LLC now owns 10,000 shares of the company’s stock valued at $253,000 after purchasing an additional 1,000 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in Palantir Technologies by 10.4% in the second quarter. Miracle Mile Advisors LLC now owns 15,010 shares of the company’s stock valued at $380,000 after buying an additional 1,420 shares during the period. Blue Trust Inc. lifted its position in shares of Palantir Technologies by 42.3% in the second quarter. Blue Trust Inc. now owns 16,646 shares of the company’s stock valued at $422,000 after buying an additional 4,945 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Palantir Technologies by 34.7% during the 2nd quarter. Brookstone Capital Management now owns 31,975 shares of the company’s stock worth $810,000 after acquiring an additional 8,243 shares during the period. Finally, Gradient Investments LLC increased its holdings in shares of Palantir Technologies by 21.4% during the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $38.40.

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.