Palantir Technologies (NYSE:PLTR) Stock Price Down 1.3% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) was down 1.3% on Tuesday following insider selling activity. The stock traded as low as $58.70 and last traded at $59.45. Approximately 26,311,479 shares changed hands during trading, a decline of 54% from the average daily volume of 57,650,754 shares. The stock had previously closed at $60.24.

Specifically, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLTR. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Wedbush lifted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Finally, Bank of America lifted their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Down 2.5 %

The business’s 50 day moving average price is $41.90 and its two-hundred day moving average price is $31.45. The company has a market capitalization of $132.53 billion, a price-to-earnings ratio of 295.61 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (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 business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in Palantir Technologies by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock valued at $619,000 after buying an additional 2,427 shares during the period. Empowered Funds LLC raised its holdings in Palantir Technologies by 32.0% in the 1st quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after acquiring an additional 6,002 shares during the last quarter. Sei Investments Co. grew its stake in Palantir Technologies by 20.1% during the first quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock worth $6,895,000 after buying an additional 50,159 shares during the period. Russell Investments Group Ltd. grew its position in shares of Palantir Technologies by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after buying an additional 25,258 shares in the last quarter. Finally, US Bancorp DE increased its position in Palantir Technologies by 15.9% in the first quarter. US Bancorp DE now owns 198,930 shares of the company’s stock worth $4,577,000 after buying an additional 27,322 shares during the period. 45.65% of the stock is 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.