Selling Buzz: Palantir Technologies Inc. [PLTR] insider Sankar Shyam sells 50,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Palantir Technologies Inc. shares valued at $413,790 were sold by Sankar Shyam on Aug 25. At $8.28 per share, Sankar Shyam sold 50,000 shares. The insider’s holdings dropped to 2,005,434 shares worth approximately $14.78 million following the completion of this transaction.


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Also, Buckley Jeffrey sold 3,414 shares, netting a total of over 28,088 in proceeds. Following the sale of shares at $8.23 each, the insider now holds 355,598 shares.

Before that, Sankar Shyam had sold 75,161 shares from its account. In a trade valued at $618,372, the insider traded Palantir Technologies Inc. shares for $8.23 each. Upon closing the transaction, the insider’s holdings decreased to 75,161 shares, worth approximately $15.15 million.

As published in a research note from Deutsche Bank on August 09, 2022, Palantir Technologies Inc. [PLTR] has been rated down from a Hold to a Sell and the price target has been revised to $8 from $11. This represents a 7.87% premium over Thursday’s closing price. Analysts at Monness Crespi & Hardt downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late July. As of July 21, 2022, Raymond James has initiated its “Strong buy” rating for PLTR. Earlier on June 23, 2022, Goldman initiated its rating. Their recommendation was “a Neutral” for PLTR stock.

Analyzing PLTR’s Price Performance

On Thursday, Palantir Technologies Inc. [NYSE: PLTR] plunged -4.16% to $7.37. The stock’s lowest price that day was $7.24, but it reached a high of $7.74 in the same session. During the last five days, there has been a drop of approximately -7.99%. Over the course of the year, Palantir Technologies Inc. shares have dropped approximately -59.53%. 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 $8.89, while a 200-day SMA reached $11.50. Nevertheless, trading volume fell to 48.86 million shares from 36.81 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 7.16, which, if violated, would cause prices to drop to 6.95. In the upper region, resistance lies at 7.66. The next price resistance is at 7.95. RSI (Relative Strength Index) is 38.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 78.49%, indicating bearish price movement. Stochastics %K at holding 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 155,727,679 shares, which is about 7.93% of the total PLTR shares outstanding. The investor’s shares have appreciated by 3,131,068 from its previous 13-F filing of 152596611.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $527,592,829. SSgA Funds Management, Inc. reduced a -0.21% interest valued at $264.16 million while Renaissance Technologies LLC purchased a 15,689,300 stake. A total of 413,434 shares of Palantir Technologies Inc. were bought by Geode Capital Management LLC during the quarter, and 14,780,767 by Norges Bank Investment Management. In its current portfolio, Northern Trust Investments, Inc. holds 10,555,962 shares valued at $81.49 million.

In terms of Palantir Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $10.52 in the next 12 months, up nearly 36.54% from the previous closing price of $7.69. Analysts anticipate Palantir Technologies Inc. stock to reach $20.00 by 2022, with the lowest price target being $6.00. On June 21, 2022, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $13.

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