Palantir Technologies Inc. (NYSE:PLTR – Get Rating) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 517,135 call options on the stock. This represents an increase of approximately 115% compared to the typical volume of 240,889 call options.
Insider Transactions at Palantir Technologies
In other news, insider Alexander C. Karp sold 325,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $15.40, for a total value of $5,005,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $99,056,773.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander C. Karp sold 325,000 shares of Palantir Technologies stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $15.40, for a total transaction of $5,005,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $99,056,773.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander D. Moore sold 21,900 shares of Palantir Technologies stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $8.35, for a total transaction of $182,865.00. Following the sale, the director now owns 1,880,052 shares of the company’s stock, valued at approximately $15,698,434.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,867,874 shares of company stock worth $26,064,322. 13.96% of the stock is currently owned by insiders.
Institutional Trading of Palantir Technologies
Several hedge funds have recently made changes to their positions in the business. Atomi Financial Group Inc. acquired a new stake in Palantir Technologies in the first quarter valued at approximately $179,000. EP Wealth Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $1,280,000. Level Four Advisory Services LLC purchased a new position in Palantir Technologies in the 1st quarter valued at $88,000. Golden State Equity Partners acquired a new position in Palantir Technologies in the 1st quarter valued at $119,000. Finally, Macquarie Group Ltd. increased its stake in Palantir Technologies by 71.8% in the 1st quarter. Macquarie Group Ltd. now owns 76,873 shares of the company’s stock valued at $649,000 after buying an additional 32,131 shares during the period. Institutional investors and hedge funds own 31.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. DA Davidson began coverage on shares of Palantir Technologies in a research note on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Thursday, February 23rd. Finally, Credit Suisse Group restated a “neutral” rating and set a $11.00 price objective on shares of Palantir Technologies in a research note on Wednesday, February 15th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.88.
Palantir Technologies Price Performance
NYSE PLTR opened at $14.69 on Thursday. The firm’s 50-day moving average is $9.99 and its two-hundred day moving average is $8.38. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $17.16. The stock has a market capitalization of $31.11 billion, a P/E ratio of -113.00, a PEG ratio of 5.36 and a beta of 2.79.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.
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