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 Palantir Technologies stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $185.91, for a total value of $1,673,190.00. Following the sale, the insider directly owned 413,639 shares of the company’s stock, valued at $76,899,626.49. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Palantir Technologies Price Performance

PLTR traded up $4.50 during trading on Tuesday, reaching $187.75. 41,785,435 shares of the company’s stock were exchanged, compared to its average volume of 38,583,252. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The stock has a market capitalization of $447.49 billion, a P/E ratio of 447.03, a price-to-earnings-growth ratio of 7.10 and a beta of 1.49. The company’s fifty day simple moving average is $179.50 and its 200-day simple moving average is $164.76.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. 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 prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 62.8% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLTR. UBS Group lifted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Northland Securities boosted their price target on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research note 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 issued a Sell rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $172.28.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares during the last quarter. State Street Corp boosted its stake in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the second quarter worth approximately $3,307,457,000. Invesco Ltd. raised its stake in Palantir Technologies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Palantir Technologies by 3.8% in the 3rd quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after purchasing an additional 769,238 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.