Palantir Technologies (NYSE:PLTR) Shares Down 1.8% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded down 1.8% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $41.52 and last traded at $42.64. 23,671,379 shares were traded during trading, a decline of 59% from the average session volume of 57,163,090 shares. The stock had previously closed at $43.40.

Specifically, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Northland Securities assumed coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Performance

The stock has a market cap of $93.53 billion, a PE ratio of 348.50 and a beta of 2.72. The stock has a 50 day moving average of $35.09 and a two-hundred day moving average of $27.82.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter worth about $25,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares during the last quarter. 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.