Palantir Technologies (NYSE:PLTR) Shares Down 6.4% After Insider Selling

Palantir Technologies Inc. (NYSE:PLTR) traded down 6.4% during trading on Monday following insider selling activity. The company traded as low as $21.35 and last traded at $23.16. Approximately 30,535,723 shares changed hands during trading, a decline of 44% from the average session volume of 54,342,637 shares. The stock had previously closed at $24.74.

Specifically, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the transaction, the director now owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,164,396 shares of company stock worth $108,289,707. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLTR shares. Raymond James increased their price target on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. HSBC increased their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $22.10.

Palantir Technologies Stock Performance

The company has a fifty day moving average of $25.54 and a two-hundred day moving average of $23.45. The company has a market cap of $58.63 billion, a PE ratio of 235.50, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the second quarter valued at about $25,000. First United Bank & Trust purchased a new position in Palantir Technologies in the fourth quarter valued at about $26,000. West Paces Advisors Inc. raised its holdings in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.