Palantir Technologies (NYSE:PLTR) Trading Down 1.5% After Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares were down 1.5% during trading on Wednesday following insider selling activity. The company traded as low as $68.63 and last traded at $69.89. Approximately 32,490,301 shares were traded during trading, a decline of 45% from the average daily volume of 58,695,305 shares. The stock had previously closed at $70.96.

Specifically, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Mizuho raised their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wedbush raised their target price 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. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.64.

Palantir Technologies Stock Down 1.6 %

The business’s 50 day moving average is $50.77 and its two-hundred day moving average is $35.95. The firm has a market cap of $159.12 billion, a P/E ratio of 349.27, a P/E/G ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last announced its 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 business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter valued at about $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.