Palantir Technologies (NYSE:PLTR) Trading Down 0.4% After Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s share price was down 0.4% on Thursday following insider selling activity. The stock traded as low as $61.36 and last traded at $61.86. Approximately 23,202,840 shares were traded during trading, a decline of 60% from the average daily volume of 58,661,027 shares. The stock had previously closed at $62.12.

Specifically, insider Alexander C. Karp sold 38,093 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $411,407,221.68. This represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Down 1.2 %

The firm has a 50 day moving average of $45.36 and a 200 day moving average of $33.04. The firm has a market cap of $139.77 billion, a PE ratio of 306.79 and a beta of 2.70.

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

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares during the period. Greater Midwest Financial Group LLC grew its position in shares of Palantir Technologies by 0.3% in the third 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 in the last quarter. Quantum Private Wealth LLC raised its stake in shares of Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares during the period. Truvestments Capital LLC lifted its holdings in Palantir Technologies by 2.4% during the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc boosted its stake in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.