Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $36,047,351.76 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $3.97 during trading hours on Monday, reaching $75.92. 105,251,463 shares of the company’s stock traded hands, compared to its average volume of 79,941,234. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm’s 50 day moving average is $66.90 and its 200-day moving average is $44.73. The firm has a market capitalization of $172.95 billion, a price-to-earnings ratio of 379.62, a PEG ratio of 10.18 and a beta of 2.82.

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

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Finally, Bank of America raised their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.12.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its stake 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. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $76,000. Finally, Creekmur Asset Management LLC raised its holdings in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.