Palantir Technologies (NYSE:PLTR) Shares Down 1.1% Following Insider Selling

Shares of Palantir Technologies Inc. (NYSE:PLTR) traded down 1.1% on Friday following insider selling activity. The company traded as low as $36.68 and last traded at $36.71. 16,915,865 shares traded hands during trading, a decline of 70% from the average session volume of 57,293,305 shares. The stock had previously closed at $37.10.

Specifically, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the transaction, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total transaction of $254,021.35. Following the transaction, the director now owns 145,625 shares in the company, valued at approximately $5,558,506.25. The disclosure for this sale can be found here.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Stock Performance

The company has a market capitalization of $82.50 billion, a price-to-earnings ratio of 307.03 and a beta of 2.72. The firm’s 50-day simple moving average is $31.43 and its 200-day simple moving average is $26.32.

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

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vantage Financial Partners LLC lifted its holdings in Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Palantir Technologies by 19.9% during the 4th quarter. Franklin Resources Inc. now owns 84,004 shares of the company’s stock valued at $1,442,000 after purchasing an additional 13,958 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Palantir Technologies by 14.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 54,793 shares of the company’s stock valued at $913,000 after purchasing an additional 6,847 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Palantir Technologies by 28.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 78,124 shares of the company’s stock valued at $1,341,000 after purchasing an additional 17,163 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Palantir Technologies by 14.3% during the 4th quarter. TD Asset Management Inc now owns 426,739 shares of the company’s stock valued at $7,327,000 after purchasing an additional 53,467 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.