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 firm’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 transaction, the insider now owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Palantir Technologies Trading Down 5.0 %

Shares of Palantir Technologies stock opened at $75.92 on Tuesday. The business’s fifty day moving average price is $66.90 and its 200 day moving average price is $44.73. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a market capitalization of $172.95 billion, a P/E ratio of 379.62, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released 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 return on equity of 9.94% and a net margin of 18.01%. 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 previous year, the company posted $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research note on Monday. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.12.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. State Street Corp boosted its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares in the last quarter. FMR LLC grew its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Institutional investors and hedge funds 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.