Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $5,250,000.00 in Stock

Key Points

• Palantir Technologies insider Ryan D. Taylor sold 30,000 shares for a total of $5,250,000, representing a 7.62% decrease in his ownership stake.
• The company's stock experienced an increase of 1.5%, trading at around $182.20, following a successful earnings report.
• Palantir posted earnings of $0.16 per share, surpassing expectations, with a quarterly revenue of $1 billion, marking a 48% year-over-year growth.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at $63,657,125. This trade represents a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Palantir Technologies Stock Up 1.5%

Shares of PLTR traded up $2.66 during mid-day trading on Thursday, hitting $182.20. The company had a trading volume of 77,586,531 shares, compared to its average volume of 60,547,432. The business's 50-day simple moving average is $144.43 and its 200-day simple moving average is $114.82. Palantir Technologies Inc. has a 1-year low of $26.69 and a 1-year high of $184.48. The stock has a market cap of $429.98 billion, a PE ratio of 607.35, a P/E/G ratio of 13.07 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business's quarterly revenue was up 48.0% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLTR. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday. Bank of America raised their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. 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. Royal Bank Of Canada boosted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday. Finally, Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PLTR. Assenagon Asset Management S.A. boosted its holdings in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. acquired a new stake in Palantir Technologies during the 1st quarter worth about $45,000. Menard Financial Group LLC raised its holdings in Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after buying an additional 1,964 shares during the period. TCW Group Inc. raised its holdings in Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after buying an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC raised its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

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.

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