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On Fri, 27 Sept, 4:03 PM UTC
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Peter Thiel sells over $597 million in Palantir stock By Investing.com
Palantir Technologies Inc . (NYSE:PLTR) co-founder and board member, Peter Thiel, has executed a series of large stock sales, divesting over $597 million worth of the company's shares. These transactions occurred over several days, with prices per share ranging between $36.7702 and $37.6466. The sales, detailed in a recent SEC filing, report Thiel selling a total of 7,214,637 shares on September 24 at a weighted average price of $36.8567 per share. On the same day, he sold an additional 147,610 shares at an average of $37.6466 each. The selling spree continued on September 25, with 4,254,666 shares sold at an average of $36.7702 per share, and on September 26, Thiel parted with 4,561,502 shares at an average price of $37.0694. Following these transactions, Thiel's remaining holdings in Palantir are substantial, including direct and indirect ownership through entities such as Rivendell 7 LLC, STS Holdings II LLC, PLTR Holdings LLC, and Rivendell 25 LLC. The SEC filing indicates that Thiel maintains beneficial ownership over the securities held by these entities. The sales were made according to a preexisting Rule 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. This plan was adopted by Thiel on May 15, 2024, well in advance of the actual transactions. Investors often keep a close eye on insider trading patterns for hints about a company's prospects. The transactions by Thiel represent a significant change in his investment in Palantir, although they do not necessarily reflect a shift in the company's outlook as they were scheduled in advance. Palantir, known for its data analytics solutions, has been a subject of investor interest since its public listing. The company's stock performance and insider transactions such as these are closely monitored for insights into the company's valuation and the confidence of its key executives. In other recent news, Palantir Technologies Inc. has been the focus of several significant developments. The company's Q2 FY2024 earnings saw a 27% YoY increase, hitting $678.1 million in revenue, prompting an upward revision of its full-year revenue guidance to $2.746 billion. Analysts from Wedbush, BofA Securities, and Citi have weighed in on Palantir's performance, with Wedbush reiterating an Outperform rating and increasing the price target to $45, while BofA Securities maintained a Buy rating, and Citi reaffirmed a Neutral rating. In terms of contracts, Palantir secured a significant $99.8 million military AI contract expansion from the DEVCOM Army Research Laboratory, extending the capabilities of its Maven Smart System across various U.S. military branches. In addition, Palantir announced a multi-year contract with Nebraska Medicine to implement its Artificial Intelligence Platform (AIP), which has already led to improvements in healthcare operations and patient care. The company has also been recognized for its achievements in the field of artificial intelligence (AI) and machine learning (ML), earning top marks in the 2024 Wisdom of Crowds® Market Study by Dresner Advisory Services. Lastly, Palantir announced a collaboration with Wendy's Quality Supply Chain Co-op, Inc. to integrate AI into its operations. These are the recent developments for Palantir Technologies Inc. As investors digest the news of Peter Thiel's substantial stock sales in Palantir Technologies Inc. (NYSE:PLTR), it's worth considering the company's financial health and market performance. Palantir holds more cash than debt on its balance sheet, which suggests a strong financial position that could weather market fluctuations and invest in growth opportunities. This is a reassuring signal for investors concerned about the company's ability to sustain its operations and fund future initiatives. Moreover, Palantir's net income is expected to grow this year, indicating a positive trajectory for the company's profitability. This expected growth can be attributed to Palantir's robust gross profit margins, which stand at an impressive 81.39% for the last twelve months as of Q2 2024. Such high margins reflect the company's efficiency in managing its cost of goods sold and its ability to retain a significant portion of revenue as gross profit. In addition to these insights, the company's stock has experienced a notable uptick, with a year-to-date price total return of 116.07% and a 1-year price total return of 149.83%. This strong market performance underscores investor confidence and the stock's potential for those looking for robust returns. It's also worth noting that Palantir's stock is trading near its 52-week high, at 97.09% of the peak price, which could signal investor optimism about the company's future prospects. For those seeking further guidance, there are additional InvestingPro Tips available for Palantir, providing a deeper analysis of the company's financials and market performance. These tips can be found at InvestingPro, where 23 more tips are listed to help investors make informed decisions.
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Peter Thiel Offloads Over $1B In Palantir Stock In 2024 As Stock More Than Doubles - Palantir Technologies (NYSE:PLTR)
Peter Thiel has sold nearly $600 million worth of Palantir Technologies Inc. PLTR stock this week, according to the company's regulatory filing with U.S. Securities and Exchange Commission. This brings his total stock sales for the year to over $1 billion. What Happened: Thiel sold more than 16 million shares over a span of three days this week. This adds to the 20 million shares he sold in March and May, according to the SEC filings. The filings did not specify the reasons behind Thiel's stock sales or his plans for the proceeds. Thiel, who co-founded Palantir and has a fortune estimated at $12.4 billion by the Bloomberg Billionaires Index. This week, Palantir was added to the S&P 500, and its shares have more than doubled this year. See Also: Boeing 737 Max Jets Face New Safety Concerns Over Jamming Pedals As Investigators Point Out Moisture Leakage Risks Why It Matters: Thiel's recent stock sales come amid a backdrop of his outspoken views on various subjects. In early September, Thiel voiced concerns about the potential dangers of a government powerful enough to regulate artificial intelligence, suggesting it could lead to a "global totalitarian character." In August, Thiel defended his controversial comment calling Warren Buffett a "sociopathic grandpa from Omaha," highlighting his belief that traditional finance leaders are major roadblocks to Bitcoin's BTC/USD wider acceptance. Thiel also stirred controversy by comparing California's progressive culture to Saudi Arabia's in terms of its influence on the state's operations. He argued that "wokeism" in California has a significant impact, much like Wahhabism in Saudi Arabia. Additionally, a book by former employee Michael Gibson revealed that Thiel once offered a $1,000 monthly bonus to Palantir employees if they lived close to the office to ensure they could work late and on weekends if needed. Price Action: Palantir stock closed at $37.10 on Thursday, down 0.054%. In pre-market trading, the stock is reflecting a decrease of 0.65%. Year to date, Palantir's stock has experienced significant growth, rising by 123.76%, according to data from Benzinga Pro. Read Next: 'Safety Disaster:' Tesla FSD 'Galaxies Away From Being Anywhere Close To Competition,' Says Bearish Analyst, As He Assigns Zero Valuation To The Tech Image via Wikimedia Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs
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Peter Thiel, co-founder of Palantir Technologies, has sold over $1 billion worth of company stock in 2024. This significant divestment comes as Palantir's stock price has more than doubled, raising questions about insider confidence and future growth prospects.
Peter Thiel, the billionaire entrepreneur and co-founder of Palantir Technologies, has executed a series of significant stock sales, divesting over $1 billion worth of Palantir shares in 2024 alone 1. The most recent transaction, reported on September 5, saw Thiel selling approximately 5.6 million shares, amounting to roughly $597 million 2. This sale represents a substantial portion of Thiel's holdings in the data analytics company he helped establish.
The massive sell-off comes at a time when Palantir's stock has experienced remarkable growth. Since the beginning of 2024, the company's share price has more than doubled, reflecting strong investor confidence and positive market sentiment 1. This surge in value has provided Thiel with an opportune moment to liquidate a portion of his stake, potentially for diversification or other investment purposes.
While large insider sales can sometimes raise concerns about a company's future prospects, it's important to note that Thiel's divestment doesn't necessarily indicate a lack of faith in Palantir. Insider trading activities are closely monitored by investors and regulators alike, as they can provide insights into how company executives view the firm's valuation and future potential 2. In this case, the sale might be part of a predetermined trading plan or personal financial strategy.
Palantir Technologies, known for its data analytics software used by government agencies and large corporations, has been gaining traction in both public and private sectors. The company's strong stock performance suggests that investors remain optimistic about its growth trajectory and market opportunities 1. Despite Thiel's significant stock sales, Palantir continues to attract attention for its innovative solutions in big data analysis and artificial intelligence applications.
The series of stock sales by Thiel will likely result in a shift in Palantir's ownership structure. As one of the company's co-founders and a prominent figure in the tech industry, Thiel's reduced stake could potentially influence investor perception and corporate governance dynamics 2. However, the full impact of these transactions on Palantir's long-term strategy and direction remains to be seen.
Investors and analysts will be closely watching how the market reacts to Thiel's continued divestment. While insider sales of this magnitude can sometimes lead to short-term stock price fluctuations, Palantir's strong performance throughout 2024 suggests that the company's fundamentals and growth prospects remain solid in the eyes of many investors 1. The coming months will be crucial in determining whether this insider activity has any lasting effect on Palantir's market valuation and investor sentiment.
Multiple high-ranking executives at Palantir Technologies, including the CEO and CFO, have sold substantial amounts of company stock, totaling over $73 million in recent transactions.
6 Sources
6 Sources
Multiple Palantir Technologies executives, including the CTO and CFO, have sold significant amounts of stock. The company reports strong AI-driven growth, plans to switch to Nasdaq, and faces mixed analyst reactions.
5 Sources
5 Sources
Palantir Technologies sees significant insider stock sales, including $650 million by CEO Alexander Karp, as the company reports strong AI-driven growth and receives mixed analyst ratings.
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3 Sources
Recent SEC filings reveal a series of large stock sales by Palantir Technologies executives and insiders, totaling over $54 million. These transactions have raised questions about insider confidence in the company's future prospects.
3 Sources
3 Sources
Palantir Technologies faces challenges as its stock price drops due to potential Pentagon budget cuts and CEO Alex Karp's new stock selling plan, raising questions about the company's future growth and valuation.
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19 Sources
