The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. They issued an “underperform” rating and a $20.00 price target for the company. Palantir Technologies had issued 257,135,415 shares in its IPO on September 30th. Palantir’s Chairman and other high ranking officials sold off some shares as the IPO lockup period expired last week. The disclosure for this sale can be found here. Mixed Stance On Palantir From Funds: Soros Fund Management, which was among the earliest investors in Palantir, said following the listing it had sold all the shares it was permitted to sell and will continue to sell. Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. However, Palantir opted to impose a restriction and allowed insiders to cash in on only 20% of their holdings on the day of the listing. This is done to help the market establish a price track record. Insiders have sold 3,240,956 shares of company stock valued at $89,338,314 in the last three months. Posted-In: News Top Stories Tech Best of Benzinga, Thank you for subscribing! Palantir's stock sank on Thursday as a lockup expiration allowed 80% of the company's shares to trade on the open market. A standard IPO lock-up period typically ranges from 90 to 180 days, while lock-ups for SPAC IPOs normally last 180 days to one year. Everything you need to know about the latest SPAC news. Palantir's Joe Lonsdale Responds To PayPal's Peter Thiel's Comments On Bitcoin: Says Bitcoin Is A 'Force For Freedom'. Eight million more shares will come on the market in November when certain restricted stock units vest for company employees, and other vested RSUs will also not be beholden to the lockup agreement as they come next year.” Lock-up periods can apply to hedge funds and initial public offerings. Palantir Technologies’ (NYSE:PLTR) lock-up period is set to expire on Monday, March 29th. A lock-up period (also known as a lock-up agreement) is a period of time (usually between 90-180 days) when investors are not allowed to buy or redeem shares. Analysis, Updates & My Thoughts - YouTube. Since many shares are likely to enter the market, PLTR could see a drop. benzinga.com - Palantir Technologies Inc (NYSE: PLTR) shares came under pressure Thursday, extending the stock's losses for a sixth straight session.Lock-Up … What Palantir's Lock-Up Period Expiration Means For Investors - Flipboard Palantir's (PLTR)direct listing in September unusually included a lockup period, which expires today Then once more, even a small dip might enlarge income due to possibility leverage. Thanks to a steady rally, the stock hit a record high of $45 Jan. 27, a gain of about 375% from the stock's debut. Palantir Technologies' lock-up period expired on Monday, March 29th. The remaining 80% was not to be freed up for liquidation until after the release of Palantir's fourth-quarter results. Markets Set New All-Time Closing Highs. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. NYSE:PLTR opened at $22.58 on Friday. The goal of an IPO lockup period is to stop the flooding of the market with too much of a company’s stock supply. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. Institutional investors and hedge funds own 10.13% of the company’s stock. The consolidation should be between 32 and 28 as the stock quickly filled the gap from 25 to 29. BlackRock Inc. now owns 33,350,543 shares of the company’s stock worth $785,406,000 after acquiring an additional 4,051,396 shares during the period. Further play will be much driven by earnings and lock-up period expiration on Feb 16 or 17. A daily collection of all things fintech, interesting developments and market updates. All rights reserved. Palantir slumps as a lockup expiration opens 80% of its shares for trading (PLTR). Looking to build solid support now that the lockup period is over. Posted by Tristan Rich on Mar 26th, 2021 // Comments off. Contrary to other direct listings, PLTR decided to use a lock-up period, which makes it just like an IPO in this respect. Morgan Stanley upped their target price on shares of Palantir Technologies from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 17th. A unique "pressure release valve" is explained which could somewhat mitigate the impact of the lock-up expiration. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. Here's a quick summary. The Goldman Sachs Group upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.00 to $34.00 in a research note on Wednesday, February 17th. The total size of the offering was $1,864,231,759 based on an initial share price of $7.25. Noam Galai/Getty Images. First, the lockup period is going to end in February. Soros Fund Management LLC acquired a new stake in shares of Palantir Technologies in the third quarter worth $175,346,000. The fund's 13F filing for the fourth quarter revealed it held 18.458 million shares of Palantir valued at $434.68 million. Update to my previous post: Short-squeeze frenzy ignited volatility and catapulted the stock new consolidation level around $35 as point of control. Palantir To Debut New Software, Apps At Inaugural Demo Day, Morgan Stanley Downgrades Palantir, Says Risk/Reward Paradigm Shifts Decidedly Negative. Palantir Technologies has a 52 week low of $8.90 and a 52 week high of $45.00. In other Palantir Technologies news, insider Stephen Andrew Cohen sold 140,455 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. William Blair downgraded shares of Palantir Technologies from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 16th. Here's Why. Subject to the terms of the Lock-up Agreement and excluding all shares of our Class F common stock, substantially all of these shares may be immediately sold either by the Registered Stockholders pursuant to this prospectus or by our other existing stockholders under Rule 144 since such shares held by such other stockholders will have been beneficially owned by non-affiliates for at least … The stock currently has a consensus rating of “Hold” and an average target price of $23.57. ABG Acquisition Corp. I’s Quiet Period To End on March 29th (NASDAQ:ABGI), Vor Biopharma (NYSE:VOR) Coverage Initiated at B. 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