Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 416,053 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This represents a 99.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, December 11th, Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00.

Palantir Technologies Stock Performance

NYSE PLTR opened at $76.07 on Friday. The firm has a market cap of $173.29 billion, a PE ratio of 380.35, a P/E/G ratio of 9.70 and a beta of 2.87. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $80.91. The firm’s fifty day moving average is $55.75 and its two-hundred day moving average is $38.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. Research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday. 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 report on Tuesday, November 5th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.40.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLTR. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.