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

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $367,920,000.00.
• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00.

Palantir Technologies Stock Down 3.1 %

Shares of PLTR opened at $87.84 on Wednesday. The firm has a market cap of $200.10 billion, a PE ratio of 462.34, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company’s fifty day moving average is $86.44 and its two-hundred day moving average is $60.68. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.21.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.