Palantir Technologies (NASDAQ:PLTR) Trading Down 3.1% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price fell 3.1% during mid-day trading on Monday following insider selling activity. The company traded as low as $63.40 and last traded at $65.20. 29,277,334 shares were traded during trading, a decline of 61% from the average session volume of 75,276,055 shares. The stock had previously closed at $67.26.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the business’s 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 completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLTR. Jefferies Financial Group downgraded 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. Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.12.

Palantir Technologies Stock Performance

The company’s 50 day moving average price is $69.70 and its 200 day moving average price is $46.54. The company has a market cap of $150.14 billion, a price-to-earnings ratio of 329.57, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.