Palantir Technologies (NYSE:PLTR) Shares Down 4% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s share price dropped 4% during mid-day trading on Monday following insider selling activity. The company traded as low as $71.16 and last traded at $72.99. Approximately 60,452,724 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 59,941,855 shares. The stock had previously closed at $76.07.

Specifically, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of research firms recently weighed in on PLTR. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.40.

Palantir Technologies Stock Down 0.4 %

The company’s fifty day moving average price is $56.48 and its two-hundred day moving average price is $39.01. The company has a market cap of $172.56 billion, a price-to-earnings ratio of 378.77, a PEG ratio of 10.18 and a beta of 2.87.

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

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walter & Keenan Wealth Management LLC IN ADV raised its position in Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC raised its position in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares in the last quarter. Quantum Private Wealth LLC raised its position in Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares in the last quarter. Truvestments Capital LLC raised its position in Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after acquiring an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc raised its position in Palantir Technologies by 0.9% during the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after acquiring an additional 300 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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.