Palantir Technologies Inc. (NASDAQ:PLTR) Insider Shyam Sankar Sells 405,000 Shares

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 21st, Shyam Sankar sold 16,731 shares of Palantir Technologies stock. The shares were sold at an average price of $125.97, for a total value of $2,107,604.07.
• On Tuesday, May 20th, Shyam Sankar sold 150,814 shares of Palantir Technologies stock. The stock was sold at an average price of $126.39, for a total value of $19,061,381.46.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $2.21 during trading hours on Friday, hitting $137.40. 93,318,005 shares of the company's stock were exchanged, compared to its average volume of 80,799,506. The firm has a market capitalization of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The business's 50 day moving average is $115.48 and its 200-day moving average is $94.61. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm's 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. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optima Capital LLC increased its stake in Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after acquiring an additional 81 shares during the last quarter. Allegiance Financial Group Advisory Services LLC increased its stake in Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares during the last quarter. Delta Investment Management LLC grew its stake in shares of Palantir Technologies by 1.9% in the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after buying an additional 90 shares in the last quarter. Sovran Advisors LLC grew its stake in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares in the last quarter. Finally, Lodestone Wealth Management LLC grew its stake in shares of Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group lifted their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, DA Davidson lifted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $86.30.

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.