The shocking price drop Palantir (NASDAQ: PLTR) shares suffered since late February appears to have done little to deter Stephen Cohen, one of the biggest PLTR insider sellers.
Specifically, Cohen – the company President and Co-founder and the man responsible for some of the biggest Palantir insider trades – offloaded 3.75 million shares on March 12 at an average price of $82.73.
According to the March 14 filing, picked up by Finbold’s Insider trade tracker, the total value of the equity sold is a staggering $310 million.
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Cohen’s massive and well-time PLTR stock trade
Furthermore, the timing appears to have not been entirely accidental as it came as PLTR stock was rallying on the news of Palantir’s involvement in the $178.4 million U.S. Army program that led to the firm delivering two Tactical Intelligence Target Access Node (TITAN) trucks to the military.
While the achievement by March 12 was hardly major, investors reacted enthusiastically to the partnership’s potential.
Though, at face value, the rise from the $76.38 low on March 10 to the March 12 sale price may appear relatively trivial, it was massively consequential, given the sheer number of shares traded.
Indeed, had Cohen sold at the March 10 price, he would have made $286.4 million – a non-trivial $23.6 million less than just two days later.
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The road to the $310 million Palantir stock sale
Additionally, though Palantir’s President is known for his gargantuan trades, the March 12 trade is strange even for him. Though he executed many such stock market maneuvers since March 2021, all the trades up to November 2024 ranged from below $1 million to just over $12 million.
What’s more, the vast majority of the two dozen trades were smaller than $5 million, with only two – one in December 2023 and the other in August 2024 – exceeding $10 million.
The situation changed rapidly in November of the previous year as Cohen first reported a $21.5 million sale, then one worth nearly $96 million, followed by a slight downscaling to $69 million and, finally, the March 12 one in which he offloaded $310 million worth of shares.
The most recent other trade of a similar magnitude saw him sell $53 million worth of PLTR equity in February 2021.
Interestingly, despite its staggering value, Cohen’s sale wasn’t the biggest executed by a Palantir insider in the last six months. On November 29, Shyam Sankar – the Chief Technology Officer and Executive Vice President of Palantir Technologies – offloaded 5.28 million shares at an average price of $70.06 for a total transaction of $369.9 million.
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Palantir shares are simultaneously strong and weak in 2025
Palantir stock is in a strange place on March 17. Psychologically, there appears to be little more than doom and gloom, given the 30.80% crash from the $124.62 high reached less than a month ago to $86.24 when the Friday closing bell rang.
Despite this, the stock is also arguably in an excellent place. The deep correction did little to truly diminish the 259.33% 12-month rise, and PLTR shares are, unlike many other prominent firms, still 14.70% in the green in 2025.
Featured image via Shutterstock
