Palantir Technologies (NASDAQ:PLTR) Trading Down 0.7% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) traded down 0.7% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $76.83 and last traded at $79.36. 34,092,380 shares were traded during trading, a decline of 37% from the average session volume of 54,233,984 shares. The stock had previously closed at $79.89.

Specifically, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLTR shares. Morgan Stanley restated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research note on Monday. Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Wedbush raised their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.12.

Palantir Technologies Trading Down 2.5 %

The firm has a market cap of $155.43 billion, a PE ratio of 341.17, a P/E/G ratio of 10.18 and a beta of 2.82. The stock’s 50 day moving average price is $67.40 and its 200 day moving average price is $45.06.

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

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the period. Tyler Stone Wealth Management boosted its holdings in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $639,000. Institutional investors own 45.65% of the company’s stock.

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.