Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $674,800.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.74, for a total transaction of $674,800.00. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at $19,435,016.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Palantir Technologies Stock Performance

PLTR stock opened at $35.59 on Friday. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $36.01. The stock has a market capitalization of $79.26 billion, a PE ratio of 296.58, a price-to-earnings-growth ratio of 6.15 and a beta of 2.72. The company has a fifty day moving average of $29.69 and a 200-day moving average of $25.49.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the business posted $0.01 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. lifted its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the period. Finally, Bogart Wealth LLC lifted its stake in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.79.

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.