Palantir Technologies (NYSE:PLTR) Trading Down 0.2% After Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was down 0.2% on Monday after an insider sold shares in the company. The company traded as low as $23.30 and last traded at $23.80. Approximately 14,248,472 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 57,393,320 shares. The stock had previously closed at $23.84.

Specifically, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now owns 32,843 shares of the company’s stock, valued at $853,918. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Peter Thiel sold 5,000,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The disclosure for this sale can be found here. Insiders have sold 11,377,153 shares of company stock valued at $240,054,945 over the last three months. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Argus assumed coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Citigroup raised their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Royal Bank of Canada increased their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. DA Davidson raised their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.25.

Palantir Technologies Stock Performance

The firm’s 50-day moving average is $22.29 and its two-hundred day moving average is $21.29. The stock has a market cap of $53.51 billion, a P/E ratio of 198.93, a PEG ratio of 5.90 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $634.34 million for 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%. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC raised its position in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. First United Bank & Trust bought a new position in Palantir Technologies in the fourth quarter valued at $26,000. Pacifica Partners Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.