Palantir Technologies (NASDAQ:PLTR) Stock Price Down 3.1% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 3.1% during trading on Monday after an insider sold shares in the company. The company traded as low as $63.40 and last traded at $65.20. Approximately 29,277,334 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 75,276,055 shares. The stock had previously closed at $67.26.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. UBS Group began coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho lifted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Seven research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Price Performance

The stock’s 50 day simple moving average is $69.40 and its two-hundred day simple moving average is $46.26. The stock has a market capitalization of $148.03 billion, a PE ratio of 324.92, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in PLTR. RMR Wealth Builders raised its holdings in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. raised its stake in shares of Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after purchasing an additional 174 shares during the period. ST Germain D J Co. Inc. lifted its holdings in Palantir Technologies by 4.4% during the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock worth $362,000 after purchasing an additional 200 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the period. Finally, Greater Midwest Financial Group LLC increased its position in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after buying an additional 250 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.