Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $36,047,351.76 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $3.97 on Monday, hitting $75.92. 105,251,463 shares of the stock were exchanged, compared to its average volume of 79,941,234. The company has a market capitalization of $172.95 billion, a PE ratio of 379.62, a P/E/G ratio of 10.18 and a beta of 2.82. The business’s fifty day moving average is $66.90 and its 200 day moving average is $44.73. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm earned $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLTR shares. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.12.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Natixis Advisors LLC acquired a new stake in Palantir Technologies during the 2nd quarter valued at $274,000. Larson Financial Group LLC boosted its holdings in shares of Palantir Technologies by 24.6% during the 2nd quarter. Larson Financial Group LLC now owns 6,315 shares of the company’s stock worth $160,000 after buying an additional 1,246 shares during the period. TD Asset Management Inc boosted its holdings in shares of Palantir Technologies by 7.1% during the 2nd quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock worth $11,877,000 after buying an additional 31,047 shares during the period. Victory Capital Management Inc. grew its stake in Palantir Technologies by 18.4% in the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock valued at $16,720,000 after buying an additional 102,758 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter valued at about $25,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.