Palantir Technologies (NYSE:PLTR) Trading Down 0.1% After Insider Selling

Shares of Palantir Technologies Inc. (NYSE:PLTR) fell 0.1% on Thursday after an insider sold shares in the company. The company traded as low as $30.19 and last traded at $30.55. 8,625,396 shares changed hands during trading, a decline of 84% from the average session volume of 54,134,063 shares. The stock had previously closed at $30.59.

Specifically, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. The disclosure for this sale can be found here.

Analyst Ratings Changes

PLTR has been the topic of several research reports. Raymond James boosted their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Northland Securities began coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Argus started coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.00.

Palantir Technologies Price Performance

The stock has a market capitalization of $67.59 billion, a P/E ratio of 252.92, a PEG ratio of 5.55 and a beta of 2.72. The stock’s fifty day moving average price is $28.81 and its 200 day moving average price is $25.08.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the period. 1832 Asset Management L.P. increased its position in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares during the period. Marshall Wace LLP raised its holdings in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $46,542,000. Finally, Coatue Management LLC boosted its stake in shares of Palantir Technologies by 285.6% during the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.