Insider Selling: Palantir Technologies (NASDAQ:PLTR) Insider Sells 300,000 Shares of Company Stock

Key Points

• Palantir insider Shyam Sankar sold 300,000 shares for about $50.1 million at an average of $167.03 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 25.92% to 857,616 shares.
• Sankar also sold another 84,680 shares the following day for about $14.8 million, at an average price of $175.07.
• Palantir reported quarterly revenue of $2.31 billion, up 95.9% year over year, and earnings of $0.44 per share, topping estimates; analysts’ consensus rating was “Moderate Buy,” with an average price target of $216.20.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Shyam Sankar sold 300,000 shares of the company's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $167.03, for a total transaction of $50,109,000.00. Following the transaction, the insider owned 857,616 shares of the company's stock, valued at $143,247,600.48. This represents a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shyam Sankar also recently made the following trade(s):

• On Wednesday, November 11th, Shyam Sankar sold 84,680 shares of Palantir Technologies stock. The shares were sold at an average price of $175.07, for a total transaction of $14,824,927.60.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded down $3.59 during midday trading on Friday, reaching $167.99. 15,160,139 shares of the company's stock were exchanged, compared to its average volume of 25,516,524. The stock has a market cap of $403.69 billion, a price-to-earnings ratio of 153.20, a P/E/G ratio of 3.47 and a beta of 1.65. The firm's 50 day simple moving average is $185.08 and its two-hundred day simple moving average is $153.81. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm posted $0.21 earnings per share. The business's revenue for the quarter was up 95.9% compared to the same quarter last year. Equities research analysts predict that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

More Palantir Technologies News

Investors following PLTR have been watching these news items:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group reiterated an "underperform" rating and issued a $80.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Citigroup upped their target price on shares of Palantir Technologies from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. William Blair reiterated an "outperform" rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $156.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, November 2nd. Finally, Needham & Company LLC set a $215.00 price target on Palantir Technologies in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $216.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ballast Advisors LLC purchased a new stake in Palantir Technologies in the 1st quarter worth approximately $29,000. Axiom Investment Management LLC boosted its holdings in shares of Palantir Technologies by 181.8% during the 3rd quarter. Axiom Investment Management LLC now owns 155 shares of the company's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Navigoe LLC grew its holdings in shares of Palantir Technologies by 17,500.0% in the third quarter. Navigoe LLC now owns 176 shares of the company's stock worth $32,000 after acquiring an additional 175 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Palantir Technologies during the second quarter valued at approximately $35,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Palantir Technologies in the third quarter worth about $35,000. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

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