Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) insider Shyam Sankar sold 150,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total value of $19,500,000.00. Following the transaction, the insider directly owned 599,899 shares of the company’s stock, valued at approximately $77,986,870. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 Thursday, July 2nd, Shyam Sankar sold 35,000 shares of Palantir Technologies stock. The shares were sold at an average price of $130.00, for a total value of $4,550,000.00.
- On Wednesday, May 20th, Shyam Sankar sold 165,514 shares of Palantir Technologies stock. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56.
Palantir Technologies Stock Up 1.4%
PLTR traded up $1.83 during trading hours on Tuesday, hitting $134.37. The stock had a trading volume of 52,436,910 shares, compared to its average volume of 40,160,664. The stock has a market cap of $322.13 billion, a PE ratio of 150.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The company’s fifty day simple moving average is $133.44 and its 200 day simple moving average is $147.67.
Trending Headlines about Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
- Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
- Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir’s AI Position Wins New Support From Analysts
- Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday
Analyst Upgrades and Downgrades
PLTR has been the subject of several recent research reports. BTIG Research lowered Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research note on Friday, June 5th. Wedbush started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, DA Davidson upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $165.00 to $175.00 in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and an average target price of $190.85.
Check Out Our Latest Stock Analysis on Palantir Technologies
Institutional Trading of Palantir Technologies
Several institutional investors have recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. State Street Corp raised its position in Palantir Technologies by 1.1% in the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the period. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares during the period. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $5,149,641,000. Finally, Invesco Ltd. raised its position in shares of Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after buying an additional 616,297 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.
Palantir Technologies Company Profile
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir’s product portfolio centers on a small number of core platforms.
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