Heather A. Planishek Sells 10,907 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total value of $233,737.01. Following the completion of the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Palantir Technologies Stock Performance

PLTR stock traded down $0.06 on Wednesday, reaching $21.18. The company had a trading volume of 24,980,027 shares, compared to its average volume of 61,221,039. The company’s fifty day moving average is $22.59 and its 200 day moving average is $20.72. The company has a market cap of $47.17 billion, a P/E ratio of 176.51, a PEG ratio of 4.94 and a beta of 2.76. Palantir Technologies Inc. has a 1 year low of $11.82 and a 1 year high of $27.50.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Bank of America lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. DA Davidson boosted their price target on Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Citigroup boosted their price target on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $20.65.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Morgan Stanley raised its holdings in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. Northern Trust Corp raised its holdings in Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after acquiring an additional 1,514,232 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.