Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Palantir Technologies Inc. shares valued at $1,163,236 were sold by Glazer David A. on Aug 02. At $11.02 per share, Glazer David A. sold 105,553 shares. The insider’s holdings dropped to 1,911,484 shares worth approximately $21.64 million following the completion of this transaction.
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Also, Sankar Shyam sold 125,000 shares, netting a total of over 1,243,475 in proceeds. Following the sale of shares at $9.95 each, the insider now holds 1,918,506 shares.
Before that, Moore Alexander D. had sold 37,076 shares from its account. In a trade valued at $341,081, the Director traded Palantir Technologies Inc. shares for $9.20 each. Upon closing the transaction, the insider’s holdings decreased to 37,076 shares, worth approximately $21.78 million.
As published in a research note from Monness Crespi & Hardt on July 22, 2022, Palantir Technologies Inc. [PLTR] has been rated down from a Buy to a Neutral. Analysts at Raymond James started covering the stock with ‘”a Strong buy”‘ outlook in a report released in late July. As of June 23, 2022, Goldman has initiated its “Neutral” rating for PLTR. Earlier on June 21, 2022, BofA Securities initiated its rating. Their recommendation was “a Buy” for PLTR stock.
Analyzing PLTR’s Price Performance
On Thursday, Palantir Technologies Inc. [NYSE: PLTR] rose 1.07% to $11.32. The stock’s lowest price that day was $11.03, but it reached a high of $11.41 in the same session. During the last five days, there has been a surge of approximately 11.75%. Over the course of the year, Palantir Technologies Inc. shares have dropped approximately -37.84%. 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 $9.29, while a 200-day SMA reached $14.03. Nevertheless, trading volume fell to 32.01 million shares from 40.96 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 11.10, which, if violated, would cause prices to drop to 10.87. In the upper region, resistance lies at 11.48. The next price resistance is at 11.63. RSI (Relative Strength Index) is 66.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.98, which suggests the price will decrease in the coming days. Percent R is at 3.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Palantir Technologies Inc. subject to short interest?
Stocks of Palantir Technologies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 4.64 million shares to 108.64 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 104.0 million shares. A jump of 4.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.6.
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 transaction, BlackRock Fund Advisors’s stake is now worth $603,794,226. SSgA Funds Management, Inc. acquire a 2.75% interest valued at $310.99 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 $103.08 million.
In terms of Palantir Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $11.13 in the next 12 months, down nearly -1.79% from the previous closing price of $11.20. Analysts anticipate Palantir Technologies Inc. stock to reach $20.00 by 2022, with the lowest price target being $6.00. In spite of this, 15 analysts ranked Palantir Technologies Inc. stock as a Hold at the end of 2022. On May 10, 2022, RBC Capital Mkts assigned a price target of “an Underperform” to the stock and downgraded coverage with a $6.