Peter Thiel Sells 4,254,666 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the sale, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $36.84 on Friday. The stock has a 50 day moving average price of $31.43 and a 200-day moving average price of $26.32. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $38.19. The stock has a market cap of $82.50 billion, a price-to-earnings ratio of 307.03 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Wedbush boosted their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.29.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 0.5% during the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after buying an additional 360 shares during the last quarter. First Horizon Advisors Inc. grew its position in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after acquiring an additional 379 shares during the last quarter. Gradient Investments LLC increased its stake in Palantir Technologies by 21.4% in the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after purchasing an additional 406 shares during the period. Apella Capital LLC lifted its position in shares of Palantir Technologies by 3.7% during the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after purchasing an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after purchasing an additional 416 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.