Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 310,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Stephen Andrew Cohen also recently made the following trade(s):

• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00.

Palantir Technologies Stock Performance

Shares of PLTR opened at $86.10 on Thursday. The stock has a market capitalization of $201.94 billion, a P/E ratio of 453.18, a P/E/G ratio of 10.84 and a beta of 2.81. The company’s fifty day moving average is $88.70 and its two-hundred day moving average is $66.37. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth $31,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho boosted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Northland Securities lifted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $74.45.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.