Palantir Technologies (NASDAQ:PLTR) Shares Down 5.4% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) shares dropped 5.4% during trading on Tuesday following insider selling activity. The stock traded as low as $70.31 and last traded at $71.85. Approximately 42,862,020 shares were traded during trading, a decline of 38% from the average daily volume of 68,711,211 shares. The stock had previously closed at $75.92.

Specifically, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PLTR shares. Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday. Finally, Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Trading Down 7.8 %

The firm has a fifty day simple moving average of $67.40 and a 200-day simple moving average of $45.06. The stock has a market cap of $159.44 billion, a price-to-earnings ratio of 349.97, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS 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 company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. State of Alaska Department of Revenue increased its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management boosted its holdings in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies in the third quarter valued at $639,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.