Palantir Technologies Inc. (NYSE:PLTR) Insider Stephen Andrew Cohen Sells 450,000 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Stephen Andrew Cohen also recently made the following trade(s):

• On Friday, December 13th, Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $76.07 on Monday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $80.91. The company’s fifty day simple moving average is $55.75 and its 200-day simple moving average is $38.63. The stock has a market capitalization of $173.29 billion, a PE ratio of 475.44, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLTR shares. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday. They set a “neutral” rating and a $70.00 target price on the stock. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.40.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies during the 2nd quarter valued at approximately $30,000. 45.65% of the stock is currently owned by institutional investors.

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.