Palantir Technologies (NASDAQ:PLTR) Stock: Insider Shyam Sankar Sells 300,000 Shares

Palantir Technologies Inc. (NASDAQ:PLTR) insider Shyam Sankar sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $167.03, for a total transaction of $50,109,000.00. Following the transaction, the insider directly owned 857,616 shares in the company, valued at $143,247,600.48. The trade was a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, November 11th, Shyam Sankar sold 84,680 shares of Palantir Technologies stock. The stock was sold at an average price of $175.07, for a total transaction of $14,824,927.60.

Palantir Technologies Stock Down 2.1%

Palantir Technologies stock traded down $3.59 during midday trading on Friday, hitting $167.99. 15,160,139 shares of the stock were exchanged, compared to its average volume of 25,516,524. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The business’s 50-day moving average price is $184.79 and its 200-day moving average price is $153.82. The stock has a market capitalization of $403.69 billion, a price-to-earnings ratio of 117.48, a price-to-earnings-growth ratio of 3.47 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 95.9% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PLTR shares. The Goldman Sachs Group reissued a “buy” rating and issued a $235.00 price objective on shares of Palantir Technologies in a research report on Tuesday, November 3rd. Northland Securities set a $200.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. DA Davidson reissued a “buy” rating and set a $250.00 target price on shares of Palantir Technologies in a research report on Tuesday, November 3rd. Piper Sandler restated an “overweight” rating and set a $235.00 price target (up from $231.00) on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Perennial Investment Advisors LLC increased its holdings in Palantir Technologies by 3.1% in the 3rd quarter. Perennial Investment Advisors LLC now owns 48,554 shares of the company’s stock worth $9,082,000 after acquiring an additional 1,465 shares during the last quarter. L2 Asset Management LLC raised its stake in Palantir Technologies by 3.6% in the 3rd quarter. L2 Asset Management LLC now owns 14,144 shares of the company’s stock valued at $2,646,000 after acquiring an additional 489 shares during the period. Haverford Trust Co bought a new stake in Palantir Technologies in the 3rd quarter valued at about $257,000. Financial Advisors Network Inc. lifted its holdings in Palantir Technologies by 1.3% during the third quarter. Financial Advisors Network Inc. now owns 5,724 shares of the company’s stock valued at $1,071,000 after purchasing an additional 72 shares during the last quarter. Finally, FLC Capital Advisors purchased a new stake in Palantir Technologies during the third quarter valued at about $230,000. Institutional investors own 45.65% of the company’s stock.

More Palantir Technologies News

These are some of the PLTR news items that stood out recently:

• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: Investors are also focused on deceleration in contract-related growth indicators versus the previous quarter, which may raise questions about future demand. A planned sale of 84,680 shares by CTO Shyam Sankar—and another recent planned sale filing—could add to negative sentiment, though insider sales do not necessarily signal a lack of confidence. Article: Why Palantir Technologies Stock Is Down
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.