Palantir Technologies (NASDAQ:PLTR) Insider Sells $24,945,543.00 in Stock

Key Points

• Palantir Technologies insider Stephen Andrew Cohen sold 160,164 shares worth approximately $24.95 million, significantly decreasing his ownership by 99.63% to just 592 shares.
• Palantir reported a revenue of $1 billion for the recent quarter, which exceeded analysts' expectations and marked a 48% year-over-year increase in revenue.
• Several analysts have upgraded their price targets for Palantir shares, with Bank of America raising it to $180 and Citigroup to $177, indicating a generally positive outlook despite mixed ratings.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the transaction, the insider directly owned 592 shares in the company, valued at $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, August 20th, Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40.

Palantir Technologies Stock Up 1.6%

Shares of PLTR traded up $2.56 during trading on Friday, reaching $158.74. The company's stock had a trading volume of 101,782,072 shares, compared to its average volume of 77,128,816. The company has a fifty day moving average of $153.18 and a two-hundred day moving average of $121.39. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 709.91, a P/E/G ratio of 8.80 and a beta of 2.60.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carter Financial Group INC. bought a new position in Palantir Technologies during the second quarter worth about $1,972,000. Stance Capital LLC bought a new stake in Palantir Technologies during the second quarter worth about $1,895,000. Clarion Wealth Managment Partners LLC bought a new stake in Palantir Technologies during the second quarter worth about $286,000. Slocum Gordon & Co LLP bought a new stake in Palantir Technologies during the second quarter worth about $41,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Palantir Technologies by 36.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 113,208 shares of the company's stock worth $15,433,000 after acquiring an additional 30,533 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. Bank of America upped their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. 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. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Loop Capital raised their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Four research 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.com, the company has a consensus rating of "Hold" and a consensus target price of $136.61.

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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