Palantir Technologies Inc. (NASDAQ:PLTR) Insider Stephen Andrew Cohen Sells 1,250,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $50,497.60. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Stephen Andrew Cohen also recently made the following trade(s):

• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00.

Palantir Technologies Stock Performance

Shares of PLTR opened at $86.24 on Friday. The company has a market capitalization of $202.26 billion, a P/E ratio of 453.92, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a 50-day moving average price of $87.83 and a 200 day moving average price of $64.98.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in Palantir Technologies by 96.4% during the third 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 raised its stake in Palantir Technologies by 8.6% during 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 buying an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised 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 buying an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Finally, FMR LLC raised its stake in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $74.45.

About Palantir Technologies

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.