Palantir Technologies Inc. (NYSE:PLTR) Director Peter Thiel Sells 3,989,204 Shares

Palantir Technologies Inc. (NYSE:PLTR) Director Peter Thiel sold 3,989,204 shares of Palantir Technologies stock in a transaction on Friday, September 27th. The stock was sold at an average price of $36.94, for a total value of $147,361,195.76. Following the transaction, the director now owns 42,683,569 shares in the company, valued at approximately $1,576,731,038.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Peter Thiel also recently made the following trade(s):

• On Monday, September 30th, Peter Thiel sold 4,181,118 shares of Palantir Technologies stock. The shares were sold at an average price of $36.91, for a total transaction of $154,325,065.38.
• On Wednesday, September 25th, Peter Thiel sold 4,254,666 shares of Palantir Technologies stock. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $36.49 on Wednesday. The business has a 50-day simple moving average of $31.76 and a 200-day simple moving average of $26.51. The company has a market cap of $81.72 billion, a PE ratio of 304.11 and a beta of 2.72. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $38.19.

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

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 1.6% in the first 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in 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 purchasing an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC lifted its stake in 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 Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after buying an additional 1,580,548 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Citigroup lifted their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.29.

Palantir Technologies Company Profile

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.