Palantir Technologies (NYSE:PLTR) Trading Down 0.2% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares fell 0.2% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $44.04 and last traded at $44.90. 10,876,975 shares were traded during trading, a decline of 81% from the average session volume of 56,248,512 shares. The stock had previously closed at $44.97.

Specifically, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Monness Crespi & Hardt reduced their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Mizuho lifted their price target on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. DA Davidson lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Stock Performance

The company has a 50-day simple moving average of $37.58 and a 200 day simple moving average of $29.27. The company has a market capitalization of $97.91 billion, a P/E ratio of 257.18 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly 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). The business had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Heritage Wealth Management Inc. CA bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $6,339,000. Seven Grand Managers LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $930,000. Finally, Dock Street Asset Management Inc. increased its position in shares of Palantir Technologies by 23.4% during the third quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock valued at $37,161,000 after purchasing an additional 189,189 shares during the period. 45.65% of the stock is owned by institutional investors.

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.