Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 11,373 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Heather A. Planishek sold 11,373 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total value of $366,779.25. Following the transaction, the insider now owns 600,633 shares of the company’s stock, valued at $19,370,414.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Palantir Technologies Price Performance

Shares of NYSE:PLTR traded down $0.61 on Thursday, hitting $31.93. 43,377,114 shares of the company’s stock were exchanged, compared to its average volume of 55,389,563. The business’s 50 day simple moving average is $27.48 and its two-hundred day simple moving average is $24.53. The stock has a market capitalization of $71.49 billion, a price-to-earnings ratio of 266.06, a price-to-earnings-growth ratio of 5.66 and a beta of 2.71. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $33.13.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. Equities analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the company. Cetera Investment Advisers raised its position in Palantir Technologies by 25.2% during the 2nd quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock valued at $17,925,000 after purchasing an additional 142,411 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at $319,000. Truist Financial Corp raised its holdings in shares of Palantir Technologies by 21.5% in the second 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 in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Palantir Technologies by 20.3% in the second quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock valued at $434,000 after acquiring an additional 2,896 shares in the last quarter. Finally, Regal Investment Advisors LLC lifted its stake in Palantir Technologies by 21.2% in the second quarter. Regal Investment Advisors LLC now owns 70,622 shares of the company’s stock worth $1,789,000 after acquiring an additional 12,367 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PLTR shares. Raymond James increased their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. DA Davidson lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. HSBC upped their price objective on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.93.

About Palantir Technologies

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.