Palantir's (PLTR)direct listing in September unusually included a lockup period, which expires today The number appears mammoth when compared to the average three-month trading volume of 74.33 million shares. All rights reserved. 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. 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. This is done to help the market establish a price track record. 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. Shanthi Rexaline, Benzinga. Here's a quick summary. 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. NYSE:PLTR opened at $22.58 on Friday. It is unclear if there’s sufficient draw back potential to make this work. Featured Story: How to Invest in an Index Fund. The offering was priced at $7.25 per share. Finally, Credit Suisse Group initiated coverage on shares of Palantir Technologies in a research report on Tuesday, March 16th. 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. Palantir Technologies had issued 257,135,415 shares in its initial public offering on September 30th. My apologies for the wall of text, but there are several important points if you care about PLTR's lock-up, and what it could mean for PLTR's stock price. Palantir's Lock-Up Period Based on feedback and comments I've received, the number one concern about Palantir for most investors is the lock up expiration. A daily collection of all things fintech, interesting developments and market updates. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Palantir stock declined by about 13% in Tuesday’s trading and is down by almost 25% over the last 5 trading days. Palantir’s Chairman and other high ranking officials sold off some shares as the IPO lockup period expired last week. They noted that the move was a valuation call. The consolidation should be between 32 and 28 as the stock quickly filled the gap from 25 to 29. Point72 Asset Management L.P. acquired a new stake in shares of Palantir Technologies in the third quarter worth $284,091,000. Everything you need to know about the market - quick & easy. When a company goes public through a traditional IPO, it usually sets a lock-up period of 90 to 180 days during which insiders can't sell their shares. PLTR has been the topic of a number of research analyst reports. 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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Cathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others, Why Tim Quast Likes CCIV, Eaton, Disney, Palantir Stock, Privacy Policy / Do Not Sell My Personal Data. 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. The shares were sold at an average price of $31.59, for a total transaction of $40,597,035.57. The stock has since then pulled back, with the impending lock-up expiry on the mind of investors. Finally, P STS SPV GP IA LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $432,809,000. Here's Why. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. Further play will be much driven by earnings and lock-up period expiration on Feb 16 or 17. Benzinga does not provide investment advice. Posted by Tristan Rich on Mar 26th, 2021 // Comments off. They issued an “underperform” rating and a $20.00 price target for the company. Following the transaction, the insider now owns 102,533 shares in the company, valued at approximately $2,673,035.31. Usually, just 20% of a company’s shares are offered for the investing public. Following the transaction, the insider now owns 7,711,619 shares in the company, valued at approximately $243,610,044.21. It's facilitated by the bypassing of intermediaries and directly selling to the public. NYSE:PLTR fell by 3.45% on Monday as the broader markets continued to fall. Posted-In: News Top Stories Tech Best of Benzinga, Thank you for subscribing! One area that investors have been worrying over is the expiry period of the founder's lockup. The downward spiral was also abetted by an uninspiring fourth-quarter print, with some on the sell-side questioning the achievability of the long-term targets provided by the company. 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 Stock lock-up. Palantir Stock (PLTR): Lockup Period and Earnings Date Revealed! Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter. Analysis, Updates & My Thoughts - YouTube. In concept, buyers might brief PLTR maybe 7-10 days earlier than the lock-up expiration. Don't have a Benzinga account? Feb. 17, 2021, 12:02 PM. Citigroup downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and upped their target price for the stock from $10.00 to $15.00 in a research note on Wednesday, January 13th. 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. Disruptive Technology Advisers LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $965,814,000. 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.” On the other hand, others, including Adit Ventures, PHX Financial, and Cathie Wood's Ark Invest, have signaled they will hold Palantir shares, Bloomberg reported. 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 … Contrary to other direct listings, PLTR decided to use a lock-up period, which makes it just like an IPO in this respect. Markets Set New All-Time Closing Highs. The fund's 13F filing for the fourth quarter revealed it held 18.458 million shares of Palantir valued at $434.68 million. Insiders have sold 3,240,956 shares of company stock valued at $89,338,314 in the last three months. 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. William Blair downgraded shares of Palantir Technologies from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 16th. Soros Fund Management LLC acquired a new stake in shares of Palantir Technologies in the third quarter worth $175,346,000. Palantir Technologies Inc (NYSE: PLTR) shares came under pressure Thursday, extending the stock's losses for a sixth straight session. “Palantir will lock up about 80% of shares in the company, allowing about 380 million shares to trade on opening day. Palantir's Joe Lonsdale Responds To PayPal's Peter Thiel's Comments On Bitcoin: Says Bitcoin Is A 'Force For Freedom'. Everything you need to know about the latest SPAC news. Palantir Technologies’ (NYSE:PLTR) lock-up period is set to expire on Monday, March 29th. The total size of the offering was $1,864,231,759 based on an initial share price of $7.25. 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. Noam Galai/Getty Images. Related Link: Morgan Stanley Downgrades Palantir, Says Risk/Reward Paradigm Shifts Decidedly Negative. There's typically a 180-day lock-up period with IPOs but not direct listings. Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. Palantir Technologies' lock-up period expired on Monday, March 29th. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. Then once more, even a small dip might enlarge income due to possibility leverage. A unique "pressure release valve" is explained which could somewhat mitigate the impact of the lock-up expiration. Also, insider Alexander C. Karp sold 1,285,123 shares of the company’s stock in a transaction that occurred on Tuesday, February 2nd. © 2021 Benzinga.com. Update to my previous post: Short-squeeze frenzy ignited volatility and catapulted the stock new consolidation level around $35 as point of control. First, the lockup period is going to end in February. The sell-off is largely driven by a mixed December quarter earnings report. The company’s 50 day moving average price is $27.46. Palantir Technologies Inc (NYSE: PLTR… Lock-up periods can apply to hedge funds and initial public offerings. Institutional investors and hedge funds own 10.13% of the company’s stock. Would like to see consolidation levels inside the lower gannbox for a while prior to moving into the upper gannbox. Related Link: Palantir To Debut New Software, Apps At Inaugural Demo Day. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Palantir Stock: IPO Lockup Period Expiring Could Lead To Big Sales "About 80% of shares outstanding will be free to trade on the third trading day after fourth-quarter results," Zelnick added. 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. If a significant shareholder is trying to unload all their holdings in the first week, they can send the stock down, and this does not help anyone. Palantir To Debut New Software, Apps At Inaugural Demo Day, Morgan Stanley Downgrades Palantir, Says Risk/Reward Paradigm Shifts Decidedly Negative. The remaining 80% was not to be freed up for liquidation until after the release of Palantir's fourth-quarter results. Potentially, we may see pull back to key support level of $31 with possible false break-outs to $28 and in worst case $25. Palantir Technologies had issued 257,135,415 shares in its IPO on September 30th. Palantir’s stock sank on Thursday as a lockup expiration enabled 80% of the business’s shares to trade on the free market. "This will make approximately 1.8 billion shares available for sale, representing roughly 80% of outstanding shares," William Blair analyst Kamil Mielczarek said in a note. The stock currently has a consensus rating of “Hold” and an average target price of $23.57. Palantir's stock sank on Thursday as a lockup expiration allowed 80% of the company's shares to trade on the open market. The disclosure for this sale can be found here. Since many shares are likely to enter the market, PLTR could see a drop. What is the PLTR Lock-Up Period Palantir Technologies (PLTR) has been on a rampage since it went public on September 30th. Create one. The remaining 80% was not to be freed up for liquidation until after the release of Palantir's fourth-quarter results. Is Now The Time To Buy Stock In Xpeng, Palantir, Zoom Or DraftKings? Or, merchants might use short-term choices – particularly places – to play the draw back alternative. Companies that go public the normal way (not merging with a SPAC) have a share lock up period where insiders cannot dump their shares for a period of time. Palantir Technologies’ (NYSE:PLTR) lock-up period is set to expire on Monday, March 29th. Palantir shares, which ended their debut session at $9.50, began a leg up in late October. THIS IS NOT FINANCIAL ADVICE AND IS PUBLISHED FOR MY OWN RECORDS. When a company goes public through a traditional IPO, it usually sets a lock-up period of 90 to 180 days during which insiders can't sell their shares. Palantir slumps as a lockup expiration opens 80% of its shares for trading (PLTR). A hedge fund lock-up period will be linked to the underlying investments of the fund. 191,564 Shares in Atmos Energy Co. Acquired by SeaTown Holdings Pte. The shares were sold at an average price of $26.07, for a total transaction of $3,661,661.85. The goal of an IPO lockup period is to stop the flooding of the market with too much of a company’s stock supply. Lock-Up Expiration Floods Market With Palantir Shares: Data analytics company Palantir went public Sept. 30 through a direct listing, a relatively inexpensive method of going public. Furthermore, the impact of PLTR's lock-up is reviewed in relation to companies that have IPO'ed. The total size of the offering was $1,864,231,759 based on an initial share price of $7.25. 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. A direct listing doesn't mandate a lock-up period, unlike an initial public offering. PLTR Price Action: At last check, Palantir shares were down 7.61% to $25.02. Ltd. Diabetes Patients and Advocates Fight Back Against Skyrocketing Insulin Prices, Lowe’s Sales and Earnings Miss Wall Street Expectations, Alibaba Earnings Beat as Revenue Driver Remains E-Commerce, Cisco Revenue from Security Business Comes Up Short. Palantir Stock (PLTR): Lockup Period and Earnings Date Revealed! Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. A number of institutional investors have recently modified their holdings of PLTR. Contrary to other direct listings, PLTR decided to use a lock-up period, which makes it just like an IPO in this respect. Looking to build solid support now that the lockup period is over. Palantir Technologies had issued 257,135,415 shares in its IPO on September 30th. Palantir logo design on the New York Stock Exchange. Palantir Technologies has a 52 week low of $8.90 and a 52 week high of $45.00. 4 Palantir Analysts Debate Data Analytics Company's Mixed Q4, Eye End Of Lockup Period. 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