Palantir Technologies (NASDAQ:PLTR) Stock Price Down 4.4% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 4.4% during trading on Friday following insider selling activity. The company traded as low as $65.04 and last traded at $65.22. Approximately 33,648,114 shares changed hands during trading, a decline of 55% from the average daily volume of 75,437,453 shares. The stock had previously closed at $68.23.

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 transaction of $286,520.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Wedbush boosted their target price on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Down 1.4 %

The firm has a market capitalization of $153.22 billion, a price-to-earnings ratio of 336.32, a P/E/G ratio of 10.18 and a beta of 2.82. The stock has a 50 day moving average of $68.93 and a 200 day moving average of $45.82.

Palantir Technologies (NASDAQ:PLTR) last announced 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the company. State Street Corp raised its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the last quarter. FMR LLC boosted its holdings in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 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.