Palantir Technologies (NASDAQ:PLTR) Shares Down 5% Following Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) shares were down 5% on Thursday after an insider sold shares in the company. The stock traded as low as $81.01 and last traded at $83.12. Approximately 40,866,927 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 68,424,074 shares. The stock had previously closed at $87.45.

Specifically, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Loop Capital decreased their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday. They set a “neutral” rating and a $90.00 price objective for the company. Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday. Finally, DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $75.19.

Palantir Technologies Trading Down 4.2 %

The firm has a fifty day moving average of $92.68 and a two-hundred day moving average of $70.34. The company has a market cap of $196.47 billion, a PE ratio of 440.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Continuum Advisory LLC boosted its holdings in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after buying an additional 98 shares during the period. Heritage Wealth Management Inc. CA boosted its holdings in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after acquiring an additional 111 shares during the period. True Wealth Design LLC grew its position in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC grew its position in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.