Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $5,120,000.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Ryan D. Taylor sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $32.00, for a total value of $5,120,000.00. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,922,080. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Palantir Technologies Price Performance

NYSE PLTR traded down $0.18 on Tuesday, reaching $32.32. The company had a trading volume of 40,201,203 shares, compared to its average volume of 55,571,531. The firm has a market cap of $71.97 billion, a price-to-earnings ratio of 269.36, a P/E/G ratio of 5.47 and a beta of 2.71. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $32.75. The business has a 50 day moving average of $27.13 and a two-hundred day moving average of $24.42.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the prior year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc raised its stake in Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after purchasing an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLTR shares. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Raymond James increased their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Jefferies Financial Group raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.14.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.