Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $26,991,700.00 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $2.21 during trading hours on Wednesday, hitting $86.10. 89,362,059 shares of the stock traded hands, compared to its average volume of 65,345,553. The firm’s 50 day moving average price is $88.70 and its 200-day moving average price is $66.37. The stock has a market capitalization of $201.94 billion, a price-to-earnings ratio of 453.18, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.45.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the company. M1 Capital Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $394,000. Objective Capital Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $216,000. Thoma Capital Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $383,000. NorthCrest Asset Manangement LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $366,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $50,486,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.