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

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 0.7% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $76.83 and last traded at $79.36. Approximately 34,092,380 shares traded hands during 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 business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s 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 completion of the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Wedbush increased their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Trading Down 2.5 %

The company has a market cap of $155.43 billion, a price-to-earnings ratio of 341.17, a P/E/G 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 announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the period. FMR LLC boosted its holdings in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. 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.