Palantir Technologies (NYSE:PLTR) trading down 1.2% after domestic sales

Palantir Technologies Inc. (NYSE:PLTR – Get Your Free Report ) was down 1.2% in mid-day trading on Monday, after an insider sold shares of the company. The stock traded as high as $39.20 and last traded at $39.54. About 14,721,392 shares changed hands during trading, down 74% from the average daily volume of 57,034,293 shares. Shares previously closed at $40.01.

Specifically, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, Director Peter Thiel sold 4,181,118 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $36.91, for a total value of $154,325,065.38. Following the completion of the transaction, the director now directly owns 38,502,451 shares in the company, valued at approximately $1,421,125,466.41. This represents a 0.00 % decrease in ownership of the shares. The disclosure for this sale can be found here. In other Palantir Technologies news, Director Peter Thiel sold 3,989,204 shares of Palantir Technologies stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $36.94, for a total value of $147,361,195.76. Following the transaction, the director now owns 42,683,569 shares in the company, valued at $1,576,731,038.86. The transaction represented a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website.

Analysts on Wall Street are forecasting an increase

Several research analysts have issued reports on the stock. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Citigroup upped their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Goldman Sachs Group raised their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Argus initiated coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $27.29.

Check out our latest research report on Palantir Technologies

Palantir Technologies stock performance

The company has a fifty day moving average of $33.03 and a two hundred day moving average of $27.05. The firm has a market cap of $92.83 billion, a price-to-earnings ratio of 345.45 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR – Get Your Free Report ) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’ revenue for the quarter was up 27.2% on a year-over-year basis. In the same period last year, the company posted earnings of $0.01 per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. raised its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. 45.65% of shares are currently owned by institutional investors.

About Palantir Technologies

(Get a free report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism 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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