Palantir Technologies (NASDAQ:PLTR) Trading Down 4.4% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 4.4% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $65.04 and last traded at $65.22. Approximately 33,648,114 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 75,437,453 shares. The stock had previously closed at $68.23.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the 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 directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Palantir Technologies news, 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 value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

PLTR has been the topic of several research reports. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Seven research 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’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Stock Down 1.4 %

The business has a fifty day moving average of $68.93 and a 200 day moving average of $45.82. The firm has a market cap of $153.22 billion, a P/E ratio of 336.32, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Palantir Technologies by 96.4% in the 3rd 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 during the last quarter. Geode Capital Management LLC grew 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 valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake 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 lifted its holdings in Palantir Technologies by 8.8% during the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the 3rd 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 during the period. 45.65% of the stock is owned by institutional investors.

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.