Shyam Sankar Sells 30,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, December 3rd, Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00.
• On Friday, November 29th, Shyam Sankar sold 30,000 shares of Palantir Technologies stock. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00.

Palantir Technologies Trading Up 0.6 %

Shares of Palantir Technologies stock traded up $0.54 during trading hours on Wednesday, reaching $88.38. The stock had a trading volume of 70,201,929 shares, compared to its average volume of 94,003,234. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock's 50 day moving average is $86.44 and its 200 day moving average is $60.68. The firm has a market capitalization of $201.34 billion, a PE ratio of 467.69, a PEG ratio of 10.84 and a beta of 2.81.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Norges Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in 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 buying an additional 3,907,022 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Loop Capital started coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They issued a "buy" rating and a $141.00 target price for the company. Morgan Stanley raised Palantir Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Finally, Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $73.21.

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.