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

Palantir Technologies Inc. (NYSE:PLTR) insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 value of $367,920,000.00.

Palantir Technologies Stock Up 6.9 %

NYSE:PLTR traded up $4.57 during mid-day trading on Tuesday, hitting $70.96. 100,122,422 shares of the stock traded hands, compared to its average volume of 58,840,957. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $71.37. The firm’s 50 day moving average is $50.11 and its two-hundred day moving average is $35.72. The stock has a market capitalization of $161.65 billion, a price-to-earnings ratio of 354.82, a PEG ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter valued at $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Mizuho boosted their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Wedbush upped their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.64.

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.