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.
Sponsored · Altamira Gold Corp.
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.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
