Palantir Technologies Inc. (NASDAQ:PLTR) Insider Stephen Andrew Cohen Sells 34,357 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Stephen Andrew Cohen sold 34,357 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Stephen Andrew Cohen also recently made the following trade(s):

• On Tuesday, May 20th, Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44.
• On Monday, March 17th, Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00.
• On Friday, March 14th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00.
• On Wednesday, March 12th, Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00.

Palantir Technologies Stock Performance

PLTR stock opened at $122.29 on Friday. Palantir Technologies Inc. has a 52 week low of $20.63 and a 52 week high of $133.49. The firm’s fifty day moving average is $101.88 and its 200 day moving average is $87.09. The firm has a market cap of $286.81 billion, a P/E ratio of 643.67, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp grew its holdings in Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after acquiring an additional 64,973 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter worth $1,360,191,000. Invesco Ltd. grew its holdings in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Finally, FMR LLC grew its holdings in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho upped their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a research note on Tuesday, May 6th. UBS Group increased their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.95.

About Palantir Technologies

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.