Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 18,537 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the transaction, the insider now owns 493,469 shares in the company, valued at approximately $50,491,748.08. The trade was a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Palantir Technologies Stock Down 5.1 %

Shares of NASDAQ PLTR opened at $84.77 on Friday. The company has a market capitalization of $193.11 billion, a PE ratio of 446.18, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a fifty day simple moving average of $87.00 and a 200 day simple moving average of $61.04.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLTR. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $73.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its position 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 valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth $1,360,191,000. Finally, FMR LLC boosted its stake in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 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.