Palantir Technologies (NASDAQ:PLTR) Insider Shyam Sankar Sells 300,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 300,000 shares of Palantir Technologies stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $167.03, for a total transaction of $50,109,000.00. Following the sale, the insider owned 857,616 shares of the company’s stock, valued at $143,247,600.48. The trade was a 25.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shyam Sankar also recently made the following trade(s):

• On Wednesday, November 11th, Shyam Sankar sold 84,680 shares of Palantir Technologies stock. The shares were sold at an average price of $175.07, for a total value of $14,824,927.60.

Palantir Technologies Trading Down 2.1%

Shares of PLTR stock traded down $3.59 during trading hours on Friday, reaching $167.99. 15,160,139 shares of the company’s stock were exchanged, compared to its average volume of 25,516,524. The company has a market cap of $403.69 billion, a price-to-earnings ratio of 153.20, a P/E/G ratio of 3.47 and a beta of 1.65. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94. The stock’s 50 day moving average is $185.08 and its 200-day moving average is $153.81.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s revenue was up 95.9% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 1.36 EPS for the current year.

Trending Headlines about Palantir Technologies

Here are a few of the latest headlines about PLTR:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Palantir Technologies in a report on Thursday, October 29th. They issued an “overweight” rating and a $262.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Palantir Technologies from $90.00 to $130.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 3rd. Benchmark reaffirmed a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Morgan Stanley upped their target price on Palantir Technologies from $205.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Finally, Citigroup raised their target price on shares of Palantir Technologies from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Ballast Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $29,000. Axiom Investment Management LLC lifted its position in Palantir Technologies by 181.8% in the 3rd quarter. Axiom Investment Management LLC now owns 155 shares of the company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Navigoe LLC increased its position in Palantir Technologies by 17,500.0% in the 3rd quarter. Navigoe LLC now owns 176 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Palantir Technologies during the second quarter valued at approximately $35,000. Finally, Laurel Wealth Advisors LLC bought a new position in Palantir Technologies during the third quarter valued at about $35,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.