Palantir Technologies (NYSE:PLTR) Trading Down 2% Following Insider Selling

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) was down 2% during mid-day trading on Thursday following insider selling activity. The company traded as low as $20.66 and last traded at $20.74. Approximately 15,570,425 shares traded hands during trading, a decline of 74% from the average daily volume of 60,756,953 shares. The stock had previously closed at $21.17.

Specifically, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the transaction, the insider now directly owns 639,696 shares of the company's stock, valued at $13,625,524.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heather A. Planishek sold 2,398 shares of the business's stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the sale, the insider now directly owns 639,696 shares of the company's stock, valued at approximately $13,625,524.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the sale, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,412,722 shares of company stock valued at $414,573,750. Corporate insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. HSBC boosted their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a "hold" rating in a research note on Tuesday, May 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an "underperform" rating in a report on Tuesday, May 7th. Finally, William Blair restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $20.65.

Palantir Technologies Trading Down 2.1 %

The firm's fifty day moving average price is $22.44 and its 200-day moving average price is $20.73. The firm has a market cap of $46.15 billion, a price-to-earnings ratio of 172.72, a PEG ratio of 4.90 and a beta of 2.76.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company's stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Morgan Stanley raised its position in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company's stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company's stock valued at $183,979,000 after purchasing an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company's stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.