Palantir Technologies (NYSE:PLTR) Stock Price Down 0.4% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) fell 0.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $61.36 and last traded at $61.86. Approximately 23,202,840 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 58,661,027 shares. The stock had previously closed at $62.12.

Specifically, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total value of $2,400,239.93. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research firms have commented on PLTR. Mizuho boosted their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Citigroup upped their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Down 1.2 %

The company has a market capitalization of $139.77 billion, a PE ratio of 306.79 and a beta of 2.70. The stock’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $33.04.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share 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 analysts’ expectations of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its position in shares of Palantir Technologies by 37.0% during the third quarter. M&T Bank Corp now owns 170,043 shares of the company’s stock valued at $6,326,000 after buying an additional 45,965 shares during the period. Rehmann Capital Advisory Group purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at approximately $381,000. Sunbelt Securities Inc. boosted its position in shares of Palantir Technologies by 700.0% during the third quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company’s stock valued at $73,000 after purchasing an additional 1,715 shares in the last quarter. Toronto Dominion Bank raised its holdings in Palantir Technologies by 476.0% in the third quarter. Toronto Dominion Bank now owns 1,073,864 shares of the company’s stock worth $39,948,000 after purchasing an additional 887,442 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Palantir Technologies during the third quarter valued at $639,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.