Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $31,927,500.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, December 13th, Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01.

Palantir Technologies Stock Up 3.9 %

Shares of PLTR stock opened at $76.07 on Monday. The business has a 50-day moving average price of $55.75 and a two-hundred day moving average price of $38.63. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $80.91. The firm has a market cap of $173.29 billion, a P/E ratio of 475.44, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PLTR shares. Mizuho boosted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Wedbush upped their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $38.40.

Institutional Trading of Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.