Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 416,053 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Stephen Andrew Cohen also recently made the following trade(s):

• On Wednesday, December 11th, Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR traded up $2.87 during mid-day trading on Friday, hitting $76.07. The stock had a trading volume of 75,714,795 shares, compared to its average volume of 59,973,789. The company has a market cap of $173.29 billion, a PE ratio of 380.35, a P/E/G ratio of 9.70 and a beta of 2.87. The company’s 50 day moving average is $55.75 and its 200-day moving average is $38.39. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $80.91.

Palantir Technologies (NYSE:PLTR) last issued its 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. The company had revenue of $725.52 million for 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%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the 3rd 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 in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter valued at about $30,000. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird began coverage on shares of Palantir Technologies in a research report on Thursday. They set a “neutral” rating and a $70.00 target price on the stock. 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 research note on Thursday, November 7th. Finally, Northland Securities boosted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.40.

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.