Palantir Technologies (NYSE:PLTR) Trading Down 0.6% on Insider Selling

Shares of Palantir Technologies Inc. (NYSE:PLTR) dropped 0.6% on Thursday following insider selling activity. The company traded as low as $27.71 and last traded at $28.25. Approximately 21,401,258 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 55,685,523 shares. The stock had previously closed at $28.42.

Specifically, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The disclosure for this sale can be found here. Insiders sold a total of 11,375,179 shares of company stock valued at $240,025,973 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLTR. HSBC boosted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Wedbush reissued an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research note on Monday, May 6th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Argus started coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Stock Up 1.6 %

The firm has a market capitalization of $62.51 billion, a price-to-earnings ratio of 233.94, a price-to-earnings-growth ratio of 6.38 and a beta of 2.71. The firm’s 50 day moving average is $23.60 and its 200 day moving average is $22.13.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $634.34 million during 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%. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the company. Pursue Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $1,741,000. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after acquiring an additional 116,220 shares in the last quarter. Udine Wealth Management Inc. acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $1,612,000. Finally, Accel Wealth Management acquired a new position in Palantir Technologies in the 1st quarter valued at approximately $360,000. Hedge funds and other 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.