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After a couple of huge insider sales of the company, Palantir stock(PLTR, Financial) declined 8% on Tuesday. It fell to as low as $70.31 in the session and, by the market close, took that to $71.85. Volume for the day was 42.86 million shares, a 38 per cent drop from the day's average session volume of 68.71 million shares. It had already closed at $75.92 before the decline.
The shares went sharply down after insider Ryan D. Taylor sold 483,987 shares through a transaction in January 2025. At that price, Taylor sold the shares and made a total of about $36.05 million from the deal. Taylor holds a stake of 170,273 shares now worth around $12.68 million after the sale. Taylor's position in the company reduced significantly during this transaction by 73.97%.
Palantir's director, Lauren Elaina Friedman Stat, also sold 800 shares at $76.29, or $61,032. Now, Stat owns 62,139 shares worth $4.74 million. The sale resulted in a small 1.27% reduction in her position.
While the sales combined with the stock's fall have raised eyebrows about insider confidence in short-term company prospects, a fall in stock price is more commonly a response to big insider sales. Investors are not letting up on Palantir's shares after these transactions.
This article first appeared on GuruFocus.