Palantir Technologies (NYSE:PLTR) Shares Down 0.2% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s stock price dropped 0.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $23.30 and last traded at $23.80. Approximately 14,248,472 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 57,393,320 shares. The stock had previously closed at $23.84.

Specifically, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the transaction, the director now directly owns 32,843 shares of the company’s stock, valued at $853,918. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The disclosure for this sale can be found here. Insiders sold 11,377,153 shares of company stock valued at $240,054,945 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, May 7th. Citigroup increased their price target on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, Royal Bank of Canada lifted their price objective on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Stock Up 1.6 %

The company has a market capitalization of $54.67 billion, a P/E ratio of 203.85, a PEG ratio of 5.50 and a beta of 2.70. The business has a 50 day simple moving average of $22.34 and a 200-day simple moving average of $21.34.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Institutional Trading of Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. Morgan Stanley raised its position in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its stake in shares of Palantir Technologies by 314.7% in the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after acquiring an additional 4,011,100 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Palantir Technologies during the third quarter valued at approximately $55,719,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.