Palantir Technologies Inc. (NASDAQ:PLTR) Insider Stephen Andrew Cohen Sells 310,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Stephen Andrew Cohen also recently made the following trade(s):

• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00.

Palantir Technologies Trading Up 2.6 %

Shares of NASDAQ:PLTR opened at $86.10 on Thursday. The business has a 50-day moving average price of $88.70 and a 200 day moving average price of $66.37. The company has a market capitalization of $201.94 billion, a price-to-earnings ratio of 453.18, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 8.6% during 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 boosted 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 acquiring an additional 3,299,779 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $1,360,191,000. Finally, FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Bank of America boosted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Loop Capital lowered their target price on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.45.

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.