Palantir Technologies (NASDAQ:PLTR) Trading Down 3.1% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price dropped 3.1% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $63.40 and last traded at $65.20. Approximately 29,277,334 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 75,276,055 shares. The stock had previously closed at $67.26.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently commented on PLTR shares. Mizuho raised their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Wedbush lifted 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. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. 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 Performance

The firm has a market cap of $150.14 billion, a P/E ratio of 329.57, a PEG ratio of 10.18 and a beta of 2.82. The company has a 50 day moving average of $69.70 and a 200 day moving average of $46.54.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, analysts expect 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 acquired a new position in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its holdings in 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 purchasing an additional 650 shares during the last quarter. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the second quarter worth $30,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Palantir Technologies during the 2nd quarter worth $36,000. 45.65% of the stock is currently owned by institutional investors.

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.