Palantir Technologies (NASDAQ:PLTR) Trading Down 3.1% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) dropped 3.1% on Monday following insider selling activity. The company traded as low as $63.40 and last traded at $65.20. Approximately 29,277,334 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 75,276,055 shares. The stock had previously closed at $67.26.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $42.12.

Palantir Technologies Trading Down 4.1 %

The company has a market capitalization of $146.98 billion, a price-to-earnings ratio of 322.62, a PEG ratio of 10.18 and a beta of 2.82. The company has a 50 day moving average price of $68.93 and a 200 day moving average price of $45.98.

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

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. LPL Financial LLC lifted its stake in shares of Palantir Technologies by 16.6% in the 2nd quarter. LPL Financial LLC now owns 2,524,730 shares of the company’s stock valued at $63,951,000 after purchasing an additional 360,008 shares during the period. BOKF NA boosted its holdings in Palantir Technologies by 2.3% during the second quarter. BOKF NA now owns 30,739 shares of the company’s stock worth $779,000 after buying an additional 700 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Palantir Technologies by 107.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 478,345 shares of the company’s stock worth $12,164,000 after buying an additional 247,681 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of Palantir Technologies by 60.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 31,981 shares of the company’s stock valued at $810,000 after acquiring an additional 12,043 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Palantir Technologies by 0.3% in the 2nd quarter. Federated Hermes Inc. now owns 431,667 shares of the company’s stock valued at $10,934,000 after acquiring an additional 1,321 shares during the period. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.