Palantir Technologies (NYSE:PLTR) Shares Down 3.3% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 3.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $40.36 and last traded at $41.01. 23,643,018 shares traded hands during trading, a decline of 59% from the average session volume of 57,138,219 shares. The stock had previously closed at $42.43.

Specifically, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Wedbush raised their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Trading Down 1.2 %

The business has a 50 day simple moving average of $35.09 and a two-hundred day simple moving average of $27.82. The stock has a market cap of $93.31 billion, a price-to-earnings ratio of 349.17 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Greater Midwest Financial Group LLC boosted its position in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the period. HBW Advisory Services LLC boosted its position in Palantir Technologies by 3.6% during the 3rd quarter. HBW Advisory Services LLC now owns 10,198 shares of the company’s stock valued at $379,000 after purchasing an additional 354 shares during the period. Evolution Wealth Advisors LLC boosted its position in Palantir Technologies by 0.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after purchasing an additional 360 shares during the period. First Horizon Advisors Inc. boosted its position in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after purchasing an additional 379 shares during the period. Finally, Sage Capital Advisors llc boosted its position in Palantir Technologies by 1.8% during the 3rd quarter. Sage Capital Advisors llc now owns 23,001 shares of the company’s stock valued at $856,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.