Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $1,997,700.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shyam Sankar also recently made the following trade(s):

• On Tuesday, December 3rd, Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00.

Palantir Technologies Stock Up 2.9 %

Shares of Palantir Technologies stock opened at $71.87 on Friday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $72.98. The business’s fifty day moving average is $51.46 and its two-hundred day moving average is $36.20. The firm has a market cap of $163.72 billion, a PE ratio of 359.35, a P/E/G ratio of 9.59 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLTR. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Mizuho lifted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.64.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the period. ARK Investment Management LLC increased its stake in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.