Palantir Technologies (NYSE:PLTR) Shares Down 6.6% on Insider Selling

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) fell 6.6% on Monday following insider selling activity. The stock traded as low as $58.85 and last traded at $61.44. 63,943,051 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 58,410,379 shares. The stock had previously closed at $65.77.

Specifically, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $405,875,479.80. The trade was a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares of the company's stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PLTR shares. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Northland Capmk raised Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, Raymond James cut Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $31.71.

Palantir Technologies Trading Down 6.9 %

The business has a 50-day simple moving average of $43.19 and a 200 day simple moving average of $32.08. The stock has a market cap of $137.17 billion, a P/E ratio of 307.22 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm's revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group bought a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $381,000. Sunbelt Securities Inc. boosted its position in shares of Palantir Technologies by 700.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company's stock valued at $73,000 after purchasing an additional 1,715 shares in the last quarter. Toronto Dominion Bank raised its stake in Palantir Technologies by 476.0% during the 3rd quarter. Toronto Dominion Bank now owns 1,073,864 shares of the company's stock worth $39,948,000 after buying an additional 887,442 shares during the period. Coldstream Capital Management Inc. acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $639,000. Finally, Strait & Sound Wealth Management LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $225,000. Institutional investors own 45.65% of the company's stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.