Palantir Technologies Inc. (NASDAQ:PLTR) Director Eric H. Woersching Sells 17,000 Shares

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) Director Eric H. Woersching sold 17,000 shares of Palantir Technologies stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the sale, the director now directly owns 12,562 shares in the company, valued at $1,624,140.98. This represents a 57.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Palantir Technologies Stock Up 2.6%

Shares of PLTR stock traded up $3.47 during mid-day trading on Wednesday, reaching $136.28. 97,031,035 shares of the company's stock traded hands, compared to its average volume of 80,464,506. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $139.16. The company's 50-day moving average price is $113.13 and its 200-day moving average price is $93.63. The company has a market cap of $321.61 billion, a P/E ratio of 717.31, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 0.31 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 modified their holdings of PLTR. Sage Advisors LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $369,000. MGB Wealth Management LLC acquired a new position in Palantir Technologies in the 4th quarter worth approximately $278,000. Asset Planning Inc acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $101,000. WealthPlan Investment Management LLC grew its position in Palantir Technologies by 145.2% during the fourth quarter. WealthPlan Investment Management LLC now owns 35,805 shares of the company's stock valued at $2,708,000 after buying an additional 21,204 shares during the period. Finally, Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $281,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Finally, Mizuho boosted their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $85.05.

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.