Heather A. Planishek, the Chief Accounting Officer at Palantir Technologies Inc . (NYSE:NASDAQ:PLTR), recently sold a significant number of shares in the company amid the stock's impressive 344% year-to-date surge and trading near its 52-week high of $76.82. According to a Form 4 filing with the Securities and Exchange Commission, Planishek sold a total of 13,891 shares of Palantir's Class A Common Stock on December 4, 2024. The shares were sold at prices ranging from $68.2631 to $70.89, amounting to a total value of approximately $963,825.
Following these transactions, Planishek holds 525,897 shares directly. Additionally, she retains indirect ownership of 8,130 shares as a custodian for a minor child under the Uniform Transfers to Minors Act in Colorado. These transactions were conducted as part of a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a predetermined time to avoid any potential accusations of insider trading. For comprehensive insider trading analysis and 23 additional key insights, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Palantir Technologies Inc. and Shield AI have formed a strategic partnership to advance AI-driven autonomous flight for military operations, sharing key components of each company's proprietary software. This partnership will merge Shield AI's Hivemind autonomous system with Palantir's real-time intelligence and operational control platforms, such as Gaia (NASDAQ:GAIA). In response, China announced sanctions against Shield AI and 12 other U.S. military companies.
William Blair maintained an Underperform rating on Palantir's shares, due to concerns about the company's revenue trajectory towards its 2025 target. Despite Palantir's revenue growth and gross profit margins, the firm is projected to fall short of its $4.5 billion revenue goal by over $700 million.
Palantir also received the Federal Risk and Authorization Management Program (FedRAMP) High Authorization for its full suite of products, allowing the company to offer its cloud services to the U.S. Government. This significant authorization builds upon Palantir's existing authorizations, further establishing it as a trusted provider of secure cloud services.
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