Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 310,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $2.21 during trading on Wednesday, hitting $86.10. The company had a trading volume of 89,362,059 shares, compared to its average volume of 65,345,553. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market cap of $201.94 billion, a price-to-earnings ratio of 453.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a fifty day simple moving average of $88.70 and a two-hundred day simple moving average of $66.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Loop Capital dropped their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $74.45.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in shares of 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $1,360,191,000. Finally, FMR LLC raised its position in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. 45.65% of the stock is owned by 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.