Palantir Technologies (NASDAQ:PLTR) Stock Price Down 5.6% After Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR) was down 5.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $176.50 and last traded at $177.29. Approximately 49,486,459 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 79,142,508 shares. The stock had previously closed at $187.75.

Specifically, insider David A. Glazer sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $185.91, for a total transaction of $1,673,190.00. Following the completion of the sale, the insider owned 413,639 shares of the company’s stock, valued at approximately $76,899,626.49. This represents a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several brokerages have commented on PLTR. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. UBS Group boosted their price target on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Northland Securities upped their price objective on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Finally, CICC Research raised their price objective on Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Stock Performance

The company has a market cap of $442.58 billion, a price-to-earnings ratio of 442.13, a P/E/G ratio of 6.87 and a beta of 1.49. The company has a fifty day moving average of $179.38 and a two-hundred day moving average of $164.99.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s quarterly revenue was up 62.8% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the first quarter valued at $27,000. LFA Lugano Financial Advisors SA bought a new position in Palantir Technologies during the second quarter valued at $27,000. Finally, Briaud Financial Planning Inc purchased a new stake in Palantir Technologies in the second quarter worth $27,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.