Palantir Technologies (NYSE:PLTR) Trading Down 0.2% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares fell 0.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $44.04 and last traded at $44.90. 10,876,975 shares changed hands during trading, a decline of 81% from the average session volume of 56,248,512 shares. The stock had previously closed at $44.97.

Specifically, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at $14,911,605. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. DA Davidson upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Northland Securities assumed coverage on Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Price Performance

The firm has a market cap of $97.91 billion, a price-to-earnings ratio of 257.18 and a beta of 2.72. The firm has a 50 day moving average price of $37.58 and a 200-day moving average price of $29.27.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the company earned $0.01 EPS. The company’s revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at $25,000. Summit Securities Group LLC acquired a new position in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the second quarter valued at about $25,000. Creekmur Asset Management LLC lifted its stake in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the second quarter valued at about $30,000. Institutional investors and hedge funds 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.