Palantir Technologies Inc. (NYSE:PLTR) Insider Shyam Sankar Sells 5,250,000 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shyam Sankar also recently made the following trade(s):

• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $70.96 on Wednesday. The firm has a fifty day moving average price of $50.11 and a 200-day moving average price of $35.72. The stock has a market cap of $161.65 billion, a PE ratio of 354.82, a price-to-earnings-growth ratio of 8.98 and a beta of 2.87. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $71.37.

Palantir Technologies (NYSE:PLTR) last posted its earnings results 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 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 period last year, the company posted $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $30,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt dropped their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Wedbush lifted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.64.

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.