Palantir Technologies Inc. (NYSE:PLTR) Insider Shyam Sankar Sells 269,510 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR – Get Rating) insider Shyam Sankar sold 269,510 shares of Palantir Technologies stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $11.76, for a total value of $3,169,437.60. Following the completion of the sale, the insider now directly owns 1,603,950 shares in the company, valued at approximately $18,862,452. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Palantir Technologies Stock Performance

PLTR opened at $12.64 on Wednesday. Palantir Technologies Inc. has a 52-week low of $5.84 and a 52-week high of $13.42. The business has a fifty day moving average of $8.65 and a 200 day moving average of $7.88.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $6.00 to $7.00 in a research note on Tuesday, May 9th. DA Davidson assumed coverage on Palantir Technologies in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $8.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 14th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $11.00 target price on shares of Palantir Technologies in a research report on Wednesday, February 15th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.54.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. AlphaCrest Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter worth $206,000. D.A. Davidson & CO. lifted its stake in shares of Palantir Technologies by 18.6% during the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after purchasing an additional 2,286 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth $1,475,000. Cibc World Market Inc. lifted its stake in shares of Palantir Technologies by 38.3% during the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock worth $3,114,000 after purchasing an additional 62,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Palantir Technologies by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after purchasing an additional 482,171 shares during the last quarter. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

About Palantir Technologies

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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 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.