Saturday, June 25, 2022

Insider Selling: Moore Alexander D., Palantir Technologies Inc. [PLTR] Director divested 11,377 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Palantir Technologies Inc. shares valued at $101,102 were sold by Moore Alexander D. on Jun 09. At $8.89 per share, Moore Alexander D. sold 11,377 shares. The insider’s holdings dropped to 1,960,928 shares worth approximately $17.67 million following the completion of this transaction.

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Also, Buckley Jeffrey sold 2,023 shares, netting a total of over 15,260 in proceeds. Following the sale of shares at $7.54 each, the insider now holds 389,423 shares.

Before that, Cohen Stephen Andrew had sold 56,668 shares from its account. In a trade valued at $427,452, the insider traded Palantir Technologies Inc. shares for $7.54 each. Upon closing the transaction, the insider’s holdings decreased to 56,668 shares, worth approximately $5333.92.

As published in their initiating research note from BofA Securities on June 21, 2022, Palantir Technologies Inc. [PLTR] has been a Buy and the price target has been revised to $13. This represents a 30.69% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”a Sector perform”‘ to ‘”an Underperform”‘ outlook in a report released in early May. As of April 20, 2022, RBC Capital Mkts has increased its “an Underperform” rating to a “Sector perform” for PLTR. Earlier on April 11, 2022, Monness Crespi & Hardt initiated its rating. Their recommendation was “a Buy” for PLTR stock.

Analyzing PLTR’s Price Performance

On Wednesday, Palantir Technologies Inc. [NYSE: PLTR] rose 3.44% to $9.01. The stock’s lowest price that day was $8.45, but it reached a high of $9.285 in the same session. During the last five days, there has been a surge of approximately 15.22%. Over the course of the year, Palantir Technologies Inc. shares have dropped approximately -50.52%. Shares of the company reached a 52-week high of $18.84 on 01/04/22 and a 52-week low of $6.44 on 05/12/22. A 50-day SMA is recorded $9.50, while a 200-day SMA reached $16.38. Nevertheless, trading volume fell to 43.4 million shares from 48.89 million shares the previous day.

Support And Resistance Levels for Palantir Technologies Inc. (PLTR)

According to the 24-hour chart, there is a support level at 8.55, which, if violated, would cause prices to drop to 8.08. In the upper region, resistance lies at 9.38. The next price resistance is at 9.75. RSI (Relative Strength Index) is 52.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 21.35%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Palantir Technologies Inc. (PLTR)?

According to The Vanguard Group, Inc. filings, the company currently owns 152,596,611 shares, which is about 7.84% of the total PLTR shares outstanding. The investor’s shares have appreciated by 28,513,240 from its previous 13-F filing of 124083371.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $577,831,740. SSgA Funds Management, Inc. acquire a 2.75% interest valued at $297.62 million while Geode Capital Management LLC purchased a 464,597 stake. A total of 14,780,767 shares of Palantir Technologies Inc. were bought by Norges Bank Investment Management during the quarter, and -2,141,164 were sold by Renaissance Technologies LLC. In its current portfolio, Susquehanna Financial Group LLLP holds 11,365,406 shares valued at $98.65 million.

In terms of Palantir Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $10.95 in the next 12 months, up nearly 26.29% from the previous closing price of $8.71. Analysts anticipate Palantir Technologies Inc. stock to reach $16.00 by 2022, with the lowest price target being $6.00. In spite of this, 14 analysts ranked Palantir Technologies Inc. stock as a Hold at the end of 2022. On March 09, 2022, Piper Sandler assigned a price target of “an Overweight” to the stock and initiated coverage with a $15.

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