Palantir Technologies (NASDAQ:PLTR) Stock Price Down 5.4% Following Insider Selling

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded down 5.4% during trading on Tuesday following insider selling activity. The stock traded as low as $70.31 and last traded at $71.85. 42,862,020 shares changed hands during trading, a decline of 38% from the average session volume of 68,711,211 shares. The stock had previously closed at $75.92.

Specifically, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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 approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Wedbush raised their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Seven 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.12.

Palantir Technologies Stock Down 2.5 %

The business has a fifty day simple moving average of $67.89 and a two-hundred day simple moving average of $45.22. The company has a market cap of $155.43 billion, a P/E ratio of 341.17, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Palantir Technologies during the fourth quarter worth $76,000. Creekmur Asset Management LLC increased its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after purchasing an additional 380 shares in the last quarter. 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.