Palantir Technologies (NASDAQ:PLTR) Stock Price Down 0.7% Following Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 0.7% on Monday following insider selling activity. The stock traded as low as $76.83 and last traded at $79.36. Approximately 34,092,380 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 54,233,984 shares. The stock had previously closed at $79.89.

Specifically, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLTR shares. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Bank of America raised their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Down 2.5 %

The firm has a market cap of $155.43 billion, a PE ratio of 341.17, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The stock has a 50 day moving average price of $67.40 and a two-hundred day moving average price of $45.06.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. First Hawaiian Bank raised its position in 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 buying an additional 4,131 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $33,500,000. Range Financial Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth $526,000. Strathmore Capital Advisors Inc. acquired a new position in Palantir Technologies during the fourth quarter valued at $832,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $325,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.