Shyam Sankar Sells 30,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shyam Sankar also recently made the following trade(s):

• On Tuesday, December 3rd, Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00.
• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $90.68 on Tuesday. The firm has a market cap of $206.57 billion, a price-to-earnings ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock’s 50-day moving average is $86.17 and its 200-day moving average is $60.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter valued at $1,360,191,000. Finally, FMR LLC lifted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Finally, Loop Capital initiated coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price on the stock. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.21.

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.