Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Director Sells 20,000 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $0.78 during mid-day trading on Friday, reaching $23.33. The company’s stock had a trading volume of 55,667,379 shares, compared to its average volume of 61,182,539. The business’s 50 day simple moving average is $23.36 and its 200 day simple moving average is $20.17. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 257.14, a price-to-earnings-growth ratio of 5.42 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the stock. Wellington Shields Capital Management LLC bought a new stake in Palantir Technologies during the first quarter worth $121,000. Easterly Investment Partners LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at about $345,000. Wellington Shields & Co. LLC bought a new position in Palantir Technologies during the first quarter worth about $214,000. Nikko Asset Management Americas Inc. increased its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after buying an additional 1,580,548 shares during the last quarter. Finally, Absolute Capital Management LLC bought a new stake in Palantir Technologies in the first quarter valued at approximately $255,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Bank of America raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $18.35.

About Palantir Technologies

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