Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 483,987 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Palantir Technologies Trading Down 7.8 %

PLTR opened at $69.99 on Wednesday. The stock has a market cap of $159.44 billion, a PE ratio of 349.97, a P/E/G ratio of 10.18 and a beta of 2.82. The stock’s 50 day simple moving average is $67.40 and its 200-day simple moving average is $45.06. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted 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 return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the company. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLTR shares. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $42.12.

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.