Lauren Elaina Friedman, a director at Palantir Technologies Inc . (NYSE:NASDAQ:PLTR), recently sold shares of the company's Class A common stock, according to a filing with the Securities and Exchange Commission. The transaction comes as Palantir's stock has surged 375% over the past year, with InvestingPro data showing the stock trading near its 52-week high of $84.80. On January 2, Friedman sold 800 shares at a price of $76.29 each, totaling $61,032. Additionally, Friedman's spouse sold 1,000 shares on the same day at the same price, amounting to $76,290. These transactions were conducted as part of a pre-arranged trading plan under Rule 10b5-1, which was established in September 2024. Following these sales, Friedman directly holds 62,139 shares, while 99,923 shares are indirectly held by her spouse. According to InvestingPro analysis, Palantir maintains impressive gross profit margins of 81.1% and currently appears overvalued based on its Fair Value assessment. For deeper insights into insider trading patterns and 18 additional ProTips, consider exploring the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Palantir Technologies has been the focus of several significant developments. Morgan Stanley (NYSE:MS) analysts downgraded Palantir Technologies to an Underweight rating, citing valuation concerns. In contrast, Wedbush maintained a positive outlook on Palantir, reiterating an Outperform rating, highlighting the company's strong positioning in the rapidly growing artificial intelligence market. Meanwhile, UBS initiated coverage on Palantir with a Neutral rating, citing a positive outlook on the company's fundamentals and revenue growth projections.
Palantir has also secured a substantial contract with the U.S. Army, valued at approximately $400.7 million, reinforcing its role in providing data analytics solutions to the military sector. Additionally, Palantir announced its first group of partners for its Warp Speed initiative aimed at advancing American manufacturing through artificial intelligence and technology. The cohort includes Anduril Industries, L3Harris, Panasonic (OTC:PCRFY) Energy of North America, and Shield AI.
The company has also partnered with Pray.com to enhance its language translation capabilities using Palantir's Ontology Software (ETR:SOWGn) Development Kit. However, analysts from William Blair have maintained an underperform rating on Palantir due to concerns about the company's revenue projections, projecting that Palantir will fall short of its $4.5 billion revenue target by over $700 million. These are the recent developments involving Palantir Technologies.
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