Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 150,814 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Shyam Sankar sold 150,814 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $19,061,381.46. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at $88,825,122.54. This trade represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, May 21st, Shyam Sankar sold 16,731 shares of Palantir Technologies stock. The stock was sold at an average price of $125.97, for a total value of $2,107,604.07.
• On Monday, February 24th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $1.71 during trading hours on Thursday, reaching $122.29. The stock had a trading volume of 75,223,929 shares, compared to its average volume of 77,532,872. The company has a market cap of $286.81 billion, a price-to-earnings ratio of 643.67, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52 week low of $20.63 and a 52 week high of $133.49. The business's 50 day moving average price is $101.18 and its 200-day moving average price is $86.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The business's quarterly revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTR. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Mizuho raised their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.95.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Nuveen LLC purchased a new position in Palantir Technologies in the first quarter valued at $520,232,000. Price T Rowe Associates Inc. MD raised its position in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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