Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $5,446,975.78 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total value of $5,446,975.78. Following the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Palantir Technologies Price Performance

Shares of PLTR opened at $35.59 on Friday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $36.01. The stock has a 50 day simple moving average of $29.69 and a two-hundred day simple moving average of $25.49. The firm has a market cap of $79.26 billion, a P/E ratio of 296.58, a P/E/G ratio of 6.15 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. First United Bank & Trust bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $26,000. West Paces Advisors Inc. boosted its holdings in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. Bank of America boosted their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Palantir Technologies in a research note on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.79.

Palantir Technologies Company Profile

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.