Palantir Technologies (NASDAQ:PLTR) Trading Down 4.4% Following Insider Selling

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) dropped 4.4% during trading on Friday after an insider sold shares in the company. The company traded as low as $65.04 and last traded at $65.22. Approximately 33,648,114 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 75,437,453 shares. The stock had previously closed at $68.23.

Specifically, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. UBS Group assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Trading Down 1.4 %

The company has a market capitalization of $153.22 billion, a price-to-earnings ratio of 336.32, a P/E/G ratio of 10.18 and a beta of 2.82. The business’s 50 day moving average price is $68.93 and its two-hundred day moving average price is $45.82.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 30.0% on a year-over-year basis. Analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. State of Alaska Department of Revenue increased its position in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Palantir Technologies in the third quarter worth $639,000. 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.