David Glazer Sells 9,000 Shares of Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider David Glazer sold 9,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $185.91, for a total transaction of $1,673,190.00. Following the completion of the transaction, the insider owned 413,639 shares in the company, valued at approximately $76,899,626.49. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Palantir Technologies Trading Down 5.6%

NASDAQ PLTR opened at $177.29 on Thursday. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52. The company has a 50 day moving average of $179.37 and a 200-day moving average of $164.85. The firm has a market cap of $422.56 billion, a price-to-earnings ratio of 422.13, a PEG ratio of 7.28 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.10 EPS. Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after acquiring an additional 8,168,604 shares during the last quarter. State Street Corp raised its position in shares of Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $3,307,457,000. Invesco Ltd. boosted its position in shares of Palantir Technologies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock worth $3,976,534,000 after purchasing an additional 1,213,529 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Palantir Technologies by 3.8% during the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock worth $3,846,957,000 after purchasing an additional 769,238 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. DA Davidson raised their target price on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Piper Sandler upped their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $172.28.

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.