David A. Glazer Sells 30,812 Shares of Palantir Technologies Inc. (NASDAQ:PLTR) Stock

Palantir Technologies Inc. (NASDAQ:PLTR) insider David A. Glazer sold 30,812 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider now directly owns 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Palantir Technologies Trading Up 0.8%

Shares of PLTR stock opened at $123.31 on Friday. The stock has a market cap of $289.21 billion, a P/E ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The stock has a 50 day simple moving average of $102.66 and a 200 day simple moving average of $87.59. Palantir Technologies Inc. has a 1 year low of $20.64 and a 1 year high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS 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. Mechanics Financial Corp bought a new stake in Palantir Technologies during the first quarter worth $25,000. Roxbury Financial LLC bought a new stake in Palantir Technologies during the fourth quarter worth $27,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the first quarter worth $27,000. Finally, First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter worth $28,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.95.

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.