Stephen Andrew Cohen Sells 1,250,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. The trade was a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00.

Palantir Technologies Trading Up 8.3 %

Shares of PLTR opened at $86.24 on Friday. The stock has a market cap of $202.26 billion, a P/E ratio of 453.92, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50-day moving average of $87.83 and a two-hundred day moving average of $65.22. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Loop Capital lowered their target price on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $74.45.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its position in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its position in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after buying an additional 111 shares during the last quarter. True Wealth Design LLC raised its position in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after buying an additional 114 shares during the last quarter. Westover Capital Advisors LLC raised its position in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after buying an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.