Palantir Technologies Inc. (NYSE:PLTR) Insider Heather A. Planishek Sells 14,016 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Palantir Technologies Stock Down 3.1 %

PLTR opened at $30.51 on Wednesday. The firm’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $24.96. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $33.13. The company has a market cap of $68.31 billion, a price-to-earnings ratio of 254.23, a PEG ratio of 5.55 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Institutional Trading of Palantir Technologies

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after buying an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Citigroup lifted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Finally, HSBC lifted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.00.

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.