Insider Selling: Palantir Technologies Inc. (NASDAQ:PLTR) Insider Sells $8,129,055.60 in Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Palantir Technologies Stock Down 4.4 %

NASDAQ PLTR traded down $3.85 during trading hours on Thursday, reaching $83.60. 93,636,202 shares of the company were exchanged, compared to its average volume of 68,768,764. The stock has a market capitalization of $196.07 billion, a P/E ratio of 440.02, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The business's 50 day simple moving average is $92.68 and its 200-day simple moving average is $70.34.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. Loop Capital decreased their price target on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. DA Davidson boosted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $75.19.

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Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock worth $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, HighMark Wealth Management LLC raised its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the period. Hedge funds and other 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.