Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $366,779.25 in Stock

Palantir Technologies Inc. (NYSE:PLTR – Get Your Free Report) Heather A. Planishek sold 11,373 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total transaction of $366,779.25. Following the sale, the insider now directly owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link.

Palantir Technologies stock performance

Shares of NYSE PLTR opened at $31.78 on Friday. The stock’s 50-day simple moving average is $27.65, and its 200-day simple moving average is $24.65. The firm has a market cap of $71.17 billion, a PE ratio of 264.86, a price-to-earnings-growth ratio of 5.66 and a beta of 2.71. Palantir Technologies Inc. it has a fifty-two week low of $13.68 and a fifty-two week high of $33.13.

Palantir Technologies (NYSE:PLTR – Get Your Free Report ) last released its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. In the same quarter last year, the company earned $0.01 per share. The company’s revenue for the quarter was up 27.2% year over year. On average, sell-side analysts estimate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional investors are stepping into Palantir Technologies

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

Analysts set new price targets

PLTR has been the subject of several research reports. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Raymond James boosted their price target on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, 6 August. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $23.93.

Check out our latest research report on PLTR

About Palantir Technologies

(Get a free report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counter-terrorism investigations and operations in the United States, United Kingdom and internationally. The company provides Palantir Gotham, a software platform that enables users to identify patterns hidden deep in data sets ranging from signals intelligence sources to reports from confidential informants, as well as facilitates handoff between analysts and operational users, helping operators plan and execute worldwide responses to threats that have been identified within the platform.

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