Palantir Technologies Inc. (NASDAQ:PLTR) Insider Stephen Andrew Cohen Sells 309,696 Shares

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, May 21st, Stephen Andrew Cohen sold 34,357 shares of Palantir Technologies stock. The shares were sold at an average price of $125.96, for a total transaction of $4,327,607.72.
• On Monday, March 17th, Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00.
• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $1.71 during trading on Thursday, reaching $122.29. 75,223,929 shares of the company were exchanged, compared to its average volume of 77,532,872. The stock's 50 day simple moving average is $101.18 and its two-hundred day simple moving average is $86.53. The company has a market capitalization of $286.81 billion, a P/E 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.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital lifted their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five research 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. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies by 16.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,172 shares of the company's stock worth $3,265,000 after purchasing an additional 6,160 shares during the period. Tallon Kerry Patrick acquired a new position in Palantir Technologies during the fourth quarter worth $289,000. Wedge Capital Management L L P NC purchased a new position in shares of Palantir Technologies during the fourth quarter worth $302,000. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $876,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Palantir Technologies by 83.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,062 shares of the company's stock valued at $383,000 after buying an additional 2,309 shares during the period. Hedge funds and other 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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