Rep. Robert Bresnahan, Jr. Sells Off Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Palantir Technologies Inc. (NASDAQ:PLTR). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Palantir Technologies stock on February 26th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Palantir Technologies Trading Down 4.7 %

NASDAQ PLTR traded down $4.24 during mid-day trading on Friday, hitting $85.85. The company’s stock had a trading volume of 90,823,164 shares, compared to its average volume of 67,978,339. The company’s 50 day simple moving average is $91.98 and its 200 day simple moving average is $69.04. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market capitalization of $201.35 billion, a price-to-earnings ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America raised their price target 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. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital lowered their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Citigroup increased their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Finally, FMR LLC boosted its holdings in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock worth $281,528,938 in the last three months. Corporate insiders own 12.93% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

Palantir Technologies Company Profile

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.