Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells 1,250,000 Shares of Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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.

Palantir Technologies Price Performance

PLTR traded up $6.62 during midday trading on Friday, reaching $86.24. 113,647,518 shares of the company's stock traded hands, compared to its average volume of 64,818,607. The firm has a fifty day moving average of $87.83 and a two-hundred day moving average of $64.98. The stock has a market capitalization of $202.26 billion, a price-to-earnings ratio of 453.92, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTR. State Street Corp raised its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the period. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Royal Bank of Canada increased their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. DA Davidson boosted their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird upped their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average target price of $74.45.

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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.

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