Shyam Sankar Divests 29,168 Shares of Palantir Technologies

Shyam Sankar, an insider at Palantir Technologies Inc. (NYSE:PLTR), recently made a substantial sale of company shares on February 12th. Sankar offloaded a total of 29,168 shares at an average price of $25.00 each, netting a sum of $729,200.00. Following this significant transaction, Sankar's remaining stake in the company comprises 752,786 shares, which at the current value, are estimated to be worth approximately $18,819,650. Details of this insider sale were made public through a SEC filing, which can be found via a dedicated hyperlink.

Impact on Palantir Technologies' Stock

After the news of the sale, Palantir Technologies' stock experienced a downturn, opening at $24.02 on the following Wednesday, marking a decline of 4.1%. The company's financial health includes a market capitalization of $52.27 billion, a price-to-earnings (P/E) ratio of 266.92, and a P/E/Growth (PEG) ratio of 5.98. Additionally, Palantir Technologies showcases a beta of 2.66, highlighting its volatility in comparison to the market. Over the past year, the company's stock has fluctuated, reaching a low of $7.19 and peaking at a 12-month high of $25.52. The current 50-day and 200-day moving average prices for the stock stand at $17.86 and $17.18, respectively.

Investor Activity in Palantir Technologies

A variety of institutional investors have recently adjusted their holdings in PLTR. Truvestments Capital LLC, for instance, has increased its position by 74.9% during the third quarter, now owning 1,635 shares valued at approximately $26,000 after purchasing an additional 700 shares. During the fourth quarter, new stakes were acquired by firms like First United Bank & Trust, Pacifica Partners Inc., Resurgent Financial Advisors LLC, and GAMMA Investing LLC, with investments ranging from $26,000 to $33,000. Currently, hedge funds and other institutional investors own about 34.21% of Palantir's stock.

Analyst Outlook on Palantir Technologies

A number of research analysts have recently updated their ratings and price targets for PLTR. Citigroup changed its rating from 'sell' to 'neutral' and lifted its target price to $20.00. Conversely, Royal Bank of Canada maintained its 'underperform' rating with a $5.00 price target. Raymond James and Jefferies Financial Group provided more favorable outlooks, raising their price targets and adjusting their ratings to reflect a seemingly optimistic perspective. Mizuho also provided a 'neutral' rating with updated price targets. Collectively, Palantir Technologies currently has an average analyst rating of 'Hold' and an average price target of $15.25 according to MarketBeat.com.

About Palantir Technologies

Palantir Technologies Inc. specializes in creating software platforms for the intelligence community within the United States, aimed at assisting with counterterrorism investigations and operations. One of their primary offerings is Palantir Gotham, a platform that allows analysts to uncover obscure patterns in vast datasets, which can range from signal intelligence sources to informants' reports, and supports the transition from analysis to operational response against identified threats.

ShyamSankar, Palantir, StockSale