Shyam Sankar Sells 150,814 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 150,814 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $19,061,381.46. Following the transaction, the insider now owns 702,786 shares of the company’s stock, valued at approximately $88,825,122.54. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shyam Sankar also recently made the following trade(s):

• On Wednesday, May 21st, Shyam Sankar sold 16,731 shares of Palantir Technologies stock. The stock was sold at an average price of $125.97, for a total value of $2,107,604.07.
• On Monday, February 24th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00.

Palantir Technologies Trading Up 1.4%

Shares of PLTR opened at $122.29 on Friday. The business’s fifty day simple moving average is $101.88 and its two-hundred day simple moving average is $87.09. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The company has a market cap of $286.81 billion, a price-to-earnings ratio of 643.67, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies in the 1st quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the 1st quarter worth $27,000. 1248 Management LLC bought a new position in Palantir Technologies in the 1st quarter worth $27,000. Roxbury Financial LLC bought a new position in Palantir Technologies in the 4th quarter worth $27,000. Finally, First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter worth $28,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. DA Davidson upped their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital upped their price objective on Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $83.95.

About Palantir Technologies

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.