Ryan D. Taylor Sells 33,335 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $2.15 on Thursday, hitting $134.27. 41,812,483 shares of the company were exchanged, compared to its average volume of 82,649,211. The company's 50 day moving average price is $127.51 and its two-hundred day moving average price is $100.66. The firm has a market capitalization of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.16 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Cantor Fitzgerald lifted their price objective on shares of 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 reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Mizuho raised their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group upped their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. Nuveen LLC acquired a new stake in Palantir Technologies during the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after purchasing an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Institutional investors and hedge funds 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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