Palantir Technologies (NYSE:PLTR) Trading Down 0.1% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) shares dropped 0.1% on Thursday following insider selling activity. The stock traded as low as $30.19 and last traded at $30.55. Approximately 8,625,396 shares traded hands during trading, a decline of 84% from the average daily volume of 54,134,063 shares. The stock had previously closed at $30.59.

Specifically, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at approximately $17,666,625.41. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Friday, August 2nd. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. DA Davidson lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Raymond James boosted their target price on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

Palantir Technologies Trading Up 0.6 %

The firm has a market capitalization of $67.59 billion, a PE ratio of 252.92, a P/E/G ratio of 5.55 and a beta of 2.72. The firm’s fifty day moving average price is $28.81 and its 200 day moving average price is $25.08.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PLTR. Sanctuary Advisors LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $3,587,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $125,000. Cetera Investment Advisers boosted its holdings in Palantir Technologies by 25.2% during the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after buying an additional 142,411 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in Palantir Technologies during the second quarter valued at $319,000. Finally, Truist Financial Corp grew its position in shares of Palantir Technologies by 21.5% during the 2nd quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock valued at $11,382,000 after acquiring an additional 79,618 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.