Palantir Technologies Inc. Director Sells $406,646 in Stock

On November 5th, Lauren Elaina Friedman Stat, a director at Palantir Technologies Inc. (NYSE: PLTR), sold 8,054 shares of the company’s stock. The shares were sold at an average price of $50.49, leading to a total transaction value of $406,646.46. After this sale, Friedman Stat now directly holds 130,250 shares, which are valued at about $6,576,322.50. This transaction shows no change in her position percentage-wise.

The sale of shares was officially reported through a legal document filed with the Securities and Exchange Commission (SEC), and it can be found on the SEC's official website.

Recently, Friedman Stat has also been active in trading Palantir stock, having made several other sales prior to this latest transaction:

• On October 11th, she sold 7,321 shares at an average price of $43.90, totaling $321,391.90.
• On September 23rd, she sold 6,655 shares at an average price of $38.17, amounting to $254,021.35.
• On September 16th, she sold 6,000 shares at an average price of $36.35, totaling $218,100.00.
• On September 9th, she sold 6,050 shares at $33.19, resulting in a total of $200,799.50.

Recent Stock Performance of Palantir Technologies

As of mid-day trading on Thursday, shares of PLTR increased by $0.34 and traded at $55.87. During this trading period, 121,369,861 shares were exchanged, which is significantly higher than the average trading volume of 57,446,848 shares. The company maintains a fifty-day moving average of $39.10 and a two-hundred-day average of $30.15. Over the past year, Palantir Technologies has seen a low of $15.66 and a high of $56.47, currently holding a market capitalization of $125.12 billion. The price-to-earnings ratio stands at 278.85, with a beta of 2.70.

Company Earnings Report

Palantir Technologies released its latest earnings report on November 4th. The company reported earnings per share (EPS) of $0.10 for the quarter, surpassing the analysts' expectations of $0.09 by a small margin. The company enjoyed a net margin of 18.01% and a return on equity of 10.41%. Their quarterly revenue reached $725.52 million, exceeding analyst predictions of $705.11 million. Compared to the same quarter last year, the revenue has increased by 30.0%.

Institutional Investor Activity

Recently, various hedge funds and institutional investors have made adjustments to their holdings in Palantir Technologies. Fidelis Capital Partners LLC acquired a new position valued at about $42,000, while Mediolanum International Funds Ltd invested approximately $597,000. Signaturefd LLC increased their holdings by 8.5%, owning 39,999 shares valued at approximately $920,000 after an additional purchase. Geneos Wealth Management Inc. and Envestnet Portfolio Solutions Inc. also raised their positions in the company. Currently, 45.65% of Palantir's stock is owned by institutional investors.

Analyst Ratings

A number of research analysts have recently provided insights regarding Palantir Technologies stock. DA Davidson increased their target price from $28.00 to $47.00, rating the stock as "neutral." Argus downgraded their rating from "buy" to "hold," and Goldman Sachs raised their price objective from $16.00 to $41.00, also rating it as "neutral." Jefferies Financial Group lowered its rating to "underperform" with a price objective of $28.00, while Northland Capital Markets upgraded their rating to "hold." Currently, the consensus shows a rating of "Hold" with a target price of $31.71.

Company Overview

Palantir Technologies Inc. specializes in constructing and deploying software platforms for intelligence agencies to assist in counterterrorism efforts across the globe, including the U.S. and U.K.. Their flagship product, Palantir Gotham, is designed to help users uncover intricate patterns within large data sets, aiding operators in combating identified threats.

Conclusion

As investors look closely at Palantir Technologies, the actions of its directors, recent stock performance, and growing interest from institutional investors may give hints on the company’s potential future performance.

Palantir, Stock, Selling