Palantir Technologies Inc. (NASDAQ:PLTR) Insider Shyam Sankar Sells 30,000 Shares

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $70.08, for a total value of $367,920,000.00.
• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00.

Palantir Technologies Price Performance

Shares of PLTR opened at $84.77 on Friday. The firm has a 50-day moving average of $87.00 and a 200-day moving average of $61.04. The company has a market cap of $193.11 billion, a PE ratio of 446.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird upped their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $73.21.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp lifted its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth $1,360,191,000. Finally, FMR LLC increased its holdings in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.