Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $31,927,500.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Stephen Andrew Cohen also recently made the following trade(s):

• On Friday, December 13th, Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01.

Palantir Technologies Stock Performance

NYSE PLTR traded up $2.87 during trading hours on Friday, hitting $76.07. The company had a trading volume of 75,714,795 shares, compared to its average volume of 59,973,789. The business has a 50 day moving average of $55.75 and a 200-day moving average of $38.39. The company has a market cap of $173.29 billion, a PE ratio of 380.35, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $80.91.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 last year, the business earned $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Northland Securities raised their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 60.5% in the third 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. State of Alaska Department of Revenue increased its holdings in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Palantir Technologies by 19.2% during the third 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 during 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 period. Finally, Boston Family Office LLC grew its holdings in shares of Palantir Technologies by 48.0% during the third quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.