Palantir Technologies (NYSE:PLTR) Stock Price Down 1.3% on Insider Selling

by · The Markets Daily

Palantir Technologies Inc. (NYSE:PLTR – Get Free Report)’s stock price traded down 1.3% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $58.70 and last traded at $59.45. 26,311,479 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 57,650,754 shares. The stock had previously closed at $60.24.

Specifically, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares in the company, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.71.

Check Out Our Latest Analysis on Palantir Technologies

Palantir Technologies Trading Down 2.5 %

The firm has a fifty day simple moving average of $41.90 and a 200 day simple moving average of $31.45. The stock has a market cap of $132.53 billion, a price-to-earnings ratio of 295.61 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business earned $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. increased its holdings in Palantir Technologies by 9.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after acquiring an additional 2,427 shares during the period. Empowered Funds LLC increased its holdings in Palantir Technologies by 32.0% during the 1st quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares during the period. Sei Investments Co. raised its holdings in shares of Palantir Technologies by 20.1% during the first quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after acquiring an additional 50,159 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Palantir Technologies by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after buying an additional 25,258 shares during the period. Finally, US Bancorp DE grew its stake in shares of Palantir Technologies by 15.9% in the 1st quarter. US Bancorp DE now owns 198,930 shares of the company’s stock worth $4,577,000 after buying an additional 27,322 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

(Get Free Report)

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.

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