Rep. Robert Bresnahan, Jr. Sells Off Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Palantir Technologies Inc. (NASDAQ:PLTR). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Palantir Technologies stock on February 26th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Palantir Technologies Trading Down 4.7 %

Palantir Technologies stock traded down $4.24 during midday trading on Friday, reaching $85.85. The stock had a trading volume of 90,823,164 shares, compared to its average volume of 67,978,339. The company has a fifty day moving average price of $91.98 and a two-hundred day moving average price of $69.04. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The company has a market capitalization of $201.35 billion, a P/E ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.45.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp increased 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 worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its position in Palantir Technologies by 52.9% during 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. Wellington Management Group LLP grew its stake in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.