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 $1,830 were sold by Palantir Technologies Inc. on Jul 22 ’24. At $0.09 per share, Palantir Technologies Inc. sold 19,998 shares. The insider’s holdings dropped to 10,248,391 shares worth approximately $272.91 million following the completion of this transaction.
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Also, Palantir Technologies Inc. sold 23,600 shares, netting a total of over 2,150 in proceeds. Following the sale of shares at $0.09 each, the insider now holds 10,268,389 shares.
Before that, Glazer David A. had sold 90,000 shares from its account. In a trade valued at $2,642,742, the insider traded Palantir Technologies Inc shares for $29.36 each. Upon closing the transaction, the insider’s holdings decreased to 90,000 shares, worth approximately $7.94 million.
As published in a research note from Mizuho on July 16, 2024, Palantir Technologies Inc [PLTR] has been rated down from a Neutral to an Underperform and the price target has been revised to $22 from $21. Analysts at Monness Crespi & Hardt downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in late June. As of June 17, 2024, Argus has initiated its “Buy” rating for PLTR. Earlier on April 26, 2024, Monness Crespi & Hardt 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 -7.02%. Over the course of the year, Palantir Technologies Inc shares have jumped approximately 55.10%. Shares of the company reached a 52-week high of $29.83 on 07/18/24 and a 52-week low of $15.66 on 01/05/24. A 50-day SMA is recorded $24.59, while a 200-day SMA reached $21.29. Nevertheless, trading volume fell to 45.13 million shares from 31.13 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 25.60, which, if violated, would cause prices to drop to 24.58. In the upper region, resistance lies at 27.47. The next price resistance is at 28.31. RSI (Relative Strength Index) is 49.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.69, which suggests the price will decrease in the coming days. Percent R is at 72.56%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
