Palantir Technologies (NASDAQ:PLTR) Stock Falls 2.1% on Insider Selling

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded down 2.1% during trading on Friday following insider selling activity. The company traded as low as $164.75 and last traded at $167.99. 15,061,330 shares changed hands during trading, a decline of 63% from the average session volume of 40,741,773 shares. The stock had previously closed at $171.58.

Specifically, insider Shyam Sankar sold 84,680 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $175.07, for a total value of $14,824,927.60. Following the transaction, the insider directly owned 857,616 shares in the company, valued at $150,142,833.12. This trade represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 300,000 shares of Palantir Technologies stock in a transaction on 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 completion of the sale, the insider directly owned 857,616 shares of the company’s stock, valued at approximately $143,247,600.48. The trade was a 25.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PLTR shares. Citigroup boosted their price target on shares of Palantir Technologies from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Benchmark reaffirmed a “hold” rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $223.00) on shares of Palantir Technologies in a report on Tuesday, November 3rd. Finally, UBS Group reissued a “buy” rating on shares of Palantir Technologies in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.20.

Trending Headlines about Palantir Technologies

Investors following PLTR have been watching these headlines:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• 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 Stock Performance

The firm has a market capitalization of $403.69 billion, a P/E ratio of 117.48, a PEG ratio of 3.47 and a beta of 1.65. The firm has a 50 day simple moving average of $184.79 and a two-hundred day simple moving average of $153.82.

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

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Entropy Technologies LP lifted its position in shares of Palantir Technologies by 15.7% during the 3rd quarter. Entropy Technologies LP now owns 88,751 shares of the company’s stock worth $16,601,000 after buying an additional 12,065 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Palantir Technologies by 330.7% in the 3rd quarter. Jump Financial LLC now owns 90,805 shares of the company’s stock worth $16,985,000 after buying an additional 69,720 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of Palantir Technologies by 13.1% in the third quarter. Flputnam Investment Management Co. now owns 13,217 shares of the company’s stock valued at $2,472,000 after acquiring an additional 1,534 shares in the last quarter. Perennial Investment Advisors LLC grew its holdings in shares of Palantir Technologies by 3.1% in the third quarter. Perennial Investment Advisors LLC now owns 48,554 shares of the company’s stock valued at $9,082,000 after acquiring an additional 1,465 shares in the last quarter. Finally, L2 Asset Management LLC grew its holdings in shares of Palantir Technologies by 3.6% in the third 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 in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.