Insider Selling: Palantir Technologies (NASDAQ:PLTR) Insider Sells $29,020,656.40 in Stock

Key Points

• Insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies for a total of $29.02 million, significantly reducing his ownership by 99.69%.
• Palantir Technologies reported a 12-month revenue growth of 48%, with a quarterly earnings per share (EPS) of $0.16, surpassing analysts' expectations.
• Several analysts have given varying ratings on Palantir, with a consensus target price of $136.61 and a mixed outlook where four analysts rated it a Buy and others recommended Hold or Sell.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the sale, the insider owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Stephen Andrew Cohen also recently made the following trade(s):

• On Thursday, August 21st, Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies stock. The shares were sold at an average price of $155.75, for a total transaction of $24,945,543.00.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $2.56 during midday trading on Friday, reaching $158.74. 101,782,072 shares of the stock traded hands, compared to its average volume of 77,128,816. The company has a fifty day moving average of $153.18 and a 200 day moving average of $121.39. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The stock has a market capitalization of $376.59 billion, a P/E ratio of 709.91, a PEG ratio of 8.80 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the business posted $0.09 EPS. The firm's revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTR shares. Citigroup restated a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Royal Bank Of Canada upped their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.61.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. State Street Corp boosted its stake in Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies in the 2nd quarter worth about $3,307,457,000. Invesco Ltd. boosted its stake in Palantir Technologies by 16.0% in the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company's stock worth $2,806,182,000 after purchasing an additional 2,838,300 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

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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