Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.7% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price dropped 0.7% during trading on Monday following insider selling activity. The stock traded as low as $76.83 and last traded at $79.36. Approximately 34,092,380 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 54,233,984 shares. The stock had previously closed at $79.89.

Specifically, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday. Wedbush raised their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Down 2.5 %

The firm has a market capitalization of $155.43 billion, a PE ratio of 341.17, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The business has a 50-day moving average price of $67.40 and a 200-day moving average price of $45.06.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC increased its position in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC raised its stake in shares of Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 2.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after acquiring an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc boosted its position in shares of Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.