Palantir Technologies (NASDAQ:PLTR) Trading Down 0.1% Following Insider Selling

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 0.1% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $116.80 and last traded at $117.84. 28,502,781 shares were traded during mid-day trading, a decline of 65% from the average session volume of 81,605,859 shares. The stock had previously closed at $117.91.

Specifically, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group increased their price objective 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. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Wedbush increased their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Up 1.1 %

The company has a market cap of $271.45 billion, a price-to-earnings ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The company has a fifty day simple moving average of $81.05 and a two-hundred day simple moving average of $55.71.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its stake 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 acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at $28,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.