Palantir's President Just Dumped PLTR Stock. Should You?
Palantir (PLTR) surged more than 300% in 2024, easily outpacing the broader market returns. Currently, PLTR stock trades 23% below all-time highs, valuing the company at a market cap of $213.3 billion.
According to SEC filings, Palantir's President Stephen Cohen sold nearly $27 million worth of Palantir shares on March 17, with shares sold at prices ranging from $85.18 to $88.63.
These sales were executed under a pre-existing Rule 10b5-1 trading plan established in December 2024. The plan involved the exercise of 310,000 vested Class B common stock options that were converted to Class A shares before being sold. Following the March 17 sale, Cohen held 592 shares of Class A common stock.
While company insiders are lowering their stakes in Palantir, the tech stock is still a good buy.
Is PLTR Stock a Good Buy Right Now?
Palantir's sales increased from $595 million in 2018 to $2.86 billion in 2024. Its growth story is far from over, given that it continues to expand its portfolio of products and solutions, widening its customer base.
Palantir has secured six new customers for its Warp Speed platform in defense and manufacturing, including Epirus, Red Cat, Saildrone, Saronic, SNC, and Ursa Major. These companies span critical industries from drone technologies and maritime solutions to propulsion systems and advanced manufacturing. The Warp Speed platform is helping these companies accelerate on-shore manufacturing capabilities, optimize maintenance, and enable advanced fleet management.
Palantir is also gaining traction in the financial services sector through a strategic joint venture with TWG Global. This partnership aims to reimagine AI deployment across banking, investment management, and insurance by moving beyond fragmented solutions to a comprehensive, enterprise-wide approach.
Palantir CEo Alex Karp described the partnership as 'seamlessly weaving AI into the fabric of financial services' to help companies 'position themselves for dominance' in today's complex global market.
Palantir's aggressive expansion across these diverse sectors highlights its strategic positioning at the intersection of AI infrastructure and critical industries and its ability to customize solutions for specific industry challenges while leveraging its core technological strengths.
Is PLTR Stock Overvalued?
Palantir's sales are forecast to increase to $4.79 billion in 2026, and adjusted earnings are forecast at $0.70 per share. Even if PLTR stock was priced at a lofty multiple of 100x trailing sales, it would trade at $70 per share, below the current trading price. This suggests shares are overvalued here.
Out of the 19 analysts covering PLTR stock, three recommend 'Strong Buy,' 11 recommend 'Hold,' one recommends 'Moderate Sell,' and four recommend 'Strong Sell.' The average target price for PLTR stock is $84.22, also below the current price.
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