Palantir Technologies (NASDAQ:PLTR) Stock Price Down 4.5% on Insider Selling

Key Points

• Palantir Technologies stock dropped 4.5% after insider David A. Glazer sold 81,000 shares, causing concern among investors regarding potential insider selling signals.
• Wall Street analysts have recently upgraded their ratings and price targets for Palantir's stock, with most analysts giving it a consensus rating of "Hold" and the average target price set at $136.61.
• Institutional ownership in Palantir is significant, with approximately 45.65% of the stock held by institutional investors, exposing new stakes from groups like Norges Bank and Vanguard Group.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price dropped 4.5% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $148.42 and last traded at $149.14. Approximately 32,715,772 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 90,594,602 shares. The stock had previously closed at $156.14.

Specifically, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLTR shares. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Down 4.4%

The stock has a market cap of $354.20 billion, a P/E ratio of 498.50, a price-to-earnings-growth ratio of 8.73 and a beta of 2.59. The stock's 50-day moving average is $156.55 and its 200-day moving average is $124.44.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business'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. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies in the second quarter valued at $3,307,457,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $2,543,888,000. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Nuveen LLC bought a new stake in Palantir Technologies in the 1st quarter valued at approximately $520,232,000. Finally, State Street Corp lifted its stake in Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock valued at $12,879,667,000 after acquiring an additional 6,097,629 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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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