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 $271,464,726 were sold by THIEL PETER on Sep 24 ’24. At $36.87 per share, THIEL PETER sold 7,362,247 shares. The insider’s holdings dropped to 55,488,941 shares worth approximately $2.06 billion following the completion of this transaction.
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Also, THIEL PETER sold 4,561,502 shares, netting a total of over 169,092,142 in proceeds. Following the sale of shares at $37.07 each, the insider now holds 46,672,773 shares.
Before that, THIEL PETER had sold 4,254,666 shares from its account. In a trade valued at $156,444,920, the Director traded Palantir Technologies Inc shares for $36.77 each. Upon closing the transaction, the insider’s holdings decreased to 4,254,666 shares, worth approximately $1.9 billion.
As published in a research note from Raymond James on September 23, 2024, Palantir Technologies Inc [PLTR] has been rated down from an Outperform to a Mkt perform. Analysts at Northland Capital started covering the stock with ‘”a Market perform”‘ outlook in a report released in late August. As of August 06, 2024, Monness Crespi & Hardt has reiterated its “Sell” rating for PLTR. Earlier on July 16, 2024, Mizuho downgraded its rating. Their new recommendation was “an Underperform” for PLTR stock which previously was a “a Neutral”.
Analyzing PLTR Stock Performance
During the last five days, there has been a surge of approximately 0.73%. Over the course of the year, Palantir Technologies Inc shares have jumped approximately 116.07%. Shares of the company reached a 52-week high of $38.19 on 09/23/24 and a 52-week low of $15.66 on 01/05/24. A 50-day SMA is recorded $31.21, while a 200-day SMA reached $24.28. Nevertheless, trading volume fell to 48.36 million shares from 79.52 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 36.65, which, if violated, would cause prices to drop to 36.21. In the upper region, resistance lies at 37.49. The next price resistance is at 37.89. RSI (Relative Strength Index) is 70.48 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 19.06%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
