Palantir (NYSE: PLTR) stock recorded strong performance over the previous month as it managed to tread closer to the $30 mark, bolstered by gains of 17.80%.
This progress extended in the most recent session, as the previous five trading days added 1.14% for a closing price of $28.46.
However, the pre-market charts show a downside of 0.95% just before the markets open on July 23.
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The recent strong performance of PLTR shares presented an opportunity for insiders to offload their holdings at higher prices than usual. PLTR stock currently trades above its 50, 100, and 200-day simple moving averages.
Palantir CFO offloads 90,000 PLTR shares
In a single trade on July 18, Palantir’s CFO, David Glazer, sold 90,000 PLTR shares at an average price of $29.36 for a total profit of $2.6 million, thus perfectly timing the recent peak for this artificial intelligence (AI) stock.
Looking at the price charts of PLTR stock, he missed the top of $29.74 on the same date as his trade by just $0.38 per share.
Other Palantir insiders were active as well
Looking at the previous three months, Palantir insiders decided to cash in on their holdings in 22 separate trades, selling 14,639,212 shares compared to zero buys.
Overall, Palantir insiders recorded a high number of sales, as the past 365 days show 81 sales, which amounted to 33,263,533 shares being offloaded compared to zero buys over the same period.
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