Palantir Technologies (NYSE:PLTR) Stock Price Down 0.8% Following Insider Selling

Shares of Palantir Technologies Inc. (NYSE:PLTR) dropped 0.8% on Wednesday following insider selling activity. The stock traded as low as $68.07 and last traded at $70.34. Approximately 45,275,619 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 59,640,852 shares. The stock had previously closed at $70.89.

Specifically, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 4th. Mizuho boosted their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $35.64.

Palantir Technologies Stock Down 0.6 %

The stock has a market capitalization of $160.51 billion, a P/E ratio of 351.70, a P/E/G ratio of 10.29 and a beta of 2.87. The firm’s 50 day simple moving average is $53.65 and its two-hundred day simple moving average is $37.52.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC lifted its stake in shares of Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after buying an additional 250 shares in the last quarter. Quantum Private Wealth LLC boosted its holdings in Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after buying an additional 250 shares during the period. Truvestments Capital LLC raised its holdings in Palantir Technologies by 2.4% during the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the period. Finally, LCM Capital Management Inc boosted its holdings in shares of Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after acquiring an additional 300 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.