Palantir Technologies (Nasdaq: PLTR) President and Co-founder Stephen Andrew Cohen has offloaded nearly all his holdings in the data analytics company, selling 3.75 million shares worth approximately $310 million, according to regulatory filings.
The transaction, executed on March 12 at an average price of $82.75 per share, left Cohen with just 592 shares in the company he helped establish.
Cohen’s substantial divestment comes during a period of significant price swings for Palantir stock. The company’s shares have fallen approximately 31% from their peak of $124.62 over the past month, closing at $86.24 on March 14.
Despite the recent decline, Palantir’s stock has demonstrated remarkable strength over the longer term, with shares appreciating 259% over the past year.
The company, known for its data analytics software used by government agencies and large corporations, has not commented on the insider sale.
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