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 $7,489 were sold by Palantir Technologies Inc. on Apr 16 ’24. At $0.31 per share, Palantir Technologies Inc. sold 24,362 shares. The insider’s holdings dropped to 5,313,833 shares worth approximately $112.28 million following the completion of this transaction.
Also, Palantir Technologies Inc. sold 8,859 shares, netting a total of over 2,954 in proceeds. Following the sale of shares at $0.33 each, the insider now holds 5,338,195 shares.
Before that, Palantir Technologies Inc. had sold 18,740 shares from its account. In a trade valued at $6,488, the 10% Owner traded Palantir Technologies Inc shares for $0.35 each. Upon closing the transaction, the insider’s holdings decreased to 18,740 shares, worth approximately $112.98 million.
As published in a research note from Monness Crespi & Hardt on March 28, 2024, Palantir Technologies Inc [PLTR] has been rated down from a Neutral to a Sell and the price target has been revised to $20. Analysts at HSBC Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid February. As of February 06, 2024, Jefferies has increased its “an Underperform” rating to a “Hold” for PLTR. Earlier on February 06, 2024, Citigroup upgraded its rating. Their new recommendation was “a Neutral” for PLTR stock which previously was a “a Sell”.
Analyzing PLTR Stock Performance
During the last five days, there has been a drop of approximately -7.49%. Over the course of the year, Palantir Technologies Inc shares have jumped approximately 23.06%. Shares of the company reached a 52-week high of $27.50 on 03/07/24 and a 52-week low of $15.66 on 01/05/24. A 50-day SMA is recorded $23.86, while a 200-day SMA reached $18.62. Nevertheless, trading volume fell to 34.42 million shares from 33.87 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 20.74, which, if violated, would cause prices to drop to 20.36. In the upper region, resistance lies at 21.47. The next price resistance is at 21.82. RSI (Relative Strength Index) is 33.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.97, which suggests the price will decrease in the coming days. Percent R is at 87.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
