Palantir Technologies Inc. (NYSE:PLTR) Insider Stephen Andrew Cohen Sells 450,000 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, December 13th, Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $76.07 on Friday. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $80.91. The firm has a market capitalization of $173.29 billion, a price-to-earnings ratio of 380.35, a P/E/G ratio of 9.70 and a beta of 2.87. The company has a 50 day moving average price of $55.75 and a 200 day moving average price of $38.51.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Finally, Creekmur Asset Management LLC increased its stake in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after acquiring an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Mizuho boosted their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, DA Davidson upped their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $38.40.

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.