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 on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Palantir Technologies Stock Down 2.5 %

Shares of NASDAQ:PLTR opened at $68.23 on Thursday. The company has a market cap of $155.43 billion, a price-to-earnings ratio of 341.17, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $45.22.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for 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%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLTR. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. First Hawaiian Bank grew its stake in shares of Palantir Technologies by 36.5% during the 4th quarter. First Hawaiian Bank now owns 15,434 shares of the company’s stock worth $1,167,000 after purchasing an additional 4,131 shares during the period. Oriental Harbor Investment Fund acquired a new position in Palantir Technologies during the fourth quarter worth about $33,500,000. Range Financial Group LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $526,000. Strathmore Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $832,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $325,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.