Palantir Technologies (NASDAQ:PLTR) Stock Falls 3.7% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price dropped 3.7% on Wednesday following insider selling activity. The stock traded as low as $199.74 and last traded at $200.97. Approximately 23,882,975 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 42,497,141 shares. The stock had previously closed at $208.67.

Specifically, insider Ryan Taylor sold 18,000 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the sale, the insider directly owned 274,667 shares of the company’s stock, valued at approximately $55,249,267.05. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the sale, the director directly owned 46,402 shares in the company, valued at $9,233,998. This trade represents a 9.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Wedbush started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating for the company. Weiss Ratings raised shares of Palantir Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. UBS Group increased their target price on shares of Palantir Technologies from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Piper Sandler restated an “overweight” rating and set a $230.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, Northland Securities set a $200.00 price target on Palantir Technologies in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.54.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP) is reportedly driving accelerating U.S. commercial growth, with rising revenue and contract values signaling strong enterprise demand. The company’s latest quarter also exceeded earnings and revenue expectations, with revenue up 92.8% year over year. AIP commercial growth article
• Positive Sentiment: The Regna AI venture with Ondas strengthens Palantir’s position in sovereign and defense AI, potentially opening additional opportunities involving drones, surveillance systems, ground vehicles and unmanned vessels. Regna AI and Palantir article
• Positive Sentiment: Palantir has beaten earnings estimates nine consecutive times, and bullish commentary continues to point to strong operating momentum, raised guidance and the possibility that consensus estimates remain too conservative. Palantir earnings outlook article

Palantir Technologies Price Performance

The company’s fifty day simple moving average is $180.59 and its 200-day simple moving average is $150.98. The firm has a market capitalization of $482.94 billion, a PE ratio of 171.77, a P/E/G ratio of 2.87 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 92.8% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Adirondack Trust Co. lifted its stake in shares of Palantir Technologies by 39.6% in the third quarter. Adirondack Trust Co. now owns 638 shares of the company’s stock worth $119,000 after buying an additional 181 shares in the last quarter. Lodestone Wealth Management LLC grew its stake in Palantir Technologies by 2.0% during the 3rd quarter. Lodestone Wealth Management LLC now owns 6,382 shares of the company’s stock valued at $1,194,000 after acquiring an additional 125 shares in the last quarter. N10 Wealth LLC grew its stake in Palantir Technologies by 19.1% during the 3rd quarter. N10 Wealth LLC now owns 72,570 shares of the company’s stock valued at $13,574,000 after acquiring an additional 11,656 shares in the last quarter. Seelaus Asset Management LLC raised its holdings in Palantir Technologies by 5.0% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,340 shares of the company’s stock valued at $625,000 after acquiring an additional 160 shares during the last quarter. Finally, N10 Assets LLC raised its holdings in Palantir Technologies by 4.2% in the 3rd quarter. N10 Assets LLC now owns 62,647 shares of the company’s stock valued at $11,718,000 after acquiring an additional 2,524 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc (NASDAQ: PLTR) develops software platforms that help organizations integrate, analyze and act on large and complex datasets. Its principal platforms include Gotham, which is designed primarily for government and defense applications; Foundry, which supports commercial and institutional data operations; Apollo, which helps deploy and manage software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects large language models and other AI tools with an organization’s data and workflows.

The company serves government agencies, defense and intelligence organizations, and commercial businesses in industries such as manufacturing, healthcare, energy and financial services.