Stephen Andrew Cohen, President and Secretary of Palantir Technologies Inc . (NYSE:NASDAQ:), recently executed a series of transactions involving the company’s Class A Common Stock. The sales come as Palantir’s stock trades near its 52-week high of $80.91, having delivered an impressive year-to-date return of 343%. According to InvestingPro analysis, the stock currently appears overvalued. On December 11, 2024, Cohen sold shares worth approximately $31.9 million, with transaction prices ranging from $68.83 to $72.48. The following day, December 12, he sold additional shares totaling around $33.1 million, with prices between $72.71 and $75.17. On December 13, Cohen continued his sales, amounting to roughly $30.9 million, with shares sold at prices from $73.08 to $75.85. These transactions were conducted under a Rule 10b5-1 trading plan, which was established in September 2024. Despite the insider selling, Palantir maintains strong fundamentals with an impressive 81.1% gross profit margin and healthy financial metrics. For deeper insights into Palantir’s valuation and 22 additional ProTips, visit InvestingPro.
In other recent news, Palantir Technologies Inc. has been actively involved in several significant developments. The company has unveiled its first group of partners for the Warp Speed initiative aimed at advancing American manufacturing through artificial intelligence. The cohort includes Anduril Industries, L3Harris, Panasonic (OTC:) Energy of North America, and Shield AI. The Warp Speed operating system is currently being used to improve dynamic production scheduling, manage engineering changes, and automate visual inspections for quality control.
Despite a revenue growth of 24.52% and gross profit margins of 81.1%, Palantir is projected to miss its $4.5 billion revenue target by over $700 million, leading William Blair to maintain an Underperform rating. Meanwhile, Palantir has secured a $36.8 million contract with the U.S. Special Operations Command to enhance its technology solutions.
In addition, Palantir and Shield AI have formed a strategic partnership aimed at advancing autonomous flight capabilities with a focus on artificial intelligence for military operations. The collaboration will combine Shield AI’s Hivemind autonomous system with Palantir’s real-time intelligence and operational control platforms. These are some of the recent developments involving Palantir.
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