In addition to the recent insider selling activities at OSI Systems and Lyft, there have been notable insider sales at Arista Networks, Palantir Technologies, and Smartsheet Inc.
Arista Networks CEO Jayshree Ullal has sold a total of $5,667,830 worth of company stock in multiple transactions. The sales were executed on May 22, 2024, and were conducted under a Rule 10b5-1 trading plan. Ullal sold the shares at prices ranging from $317.17 to $321.05. Despite the sales, Ullal still holds 17,681 shares directly and has indirect holdings through trusts [bb2e174d] [5cd64587].
Palantir Technologies' Chief Technology Officer and Executive Vice President, Shyam Sankar, also sold company stock. Sankar sold 50,000 shares of Class A Common Stock on May 23, 2024, for a total transaction value exceeding $1 million. The sales were executed through open market transactions at prices ranging from $20.65 to $21.38 per share. Sankar's direct holdings in the company decreased to 752,786 shares of Class A Common Stock. In a related transaction, Sankar converted 50,000 shares of Class B Common Stock into Class A Common Stock. These transactions were part of a pre-planned trading arrangement under Rule 10b5-1 [64766260].
Pete Godbole, the chief financial officer of Smartsheet Inc, sold 7,500 shares of the company's stock on June 13th at an average price of $43.54, for a total transaction of $326,550.00. This follows previous sales of 5,202 shares on May 15th and 10,129 shares on April 11th. After the recent sale, Godbole now owns 36,846 shares of Smartsheet stock, valued at approximately $1,604,274.84 [f3084417].
Arista Networks specializes in computer communications equipment and has a strong market capitalization of $96.04 billion. The company has a robust balance sheet with more cash than debt and has demonstrated a strong revenue growth of 25.22% over the last twelve months. Investors monitor insider transactions for insights into executives' perspectives on the company's future performance.
Palantir Technologies specializes in software and data analytics for government and commercial customers worldwide. The company's Chief Technology Officer and Executive Vice President, Shyam Sankar, sold company stock as part of a pre-planned trading arrangement. Palantir Technologies provides software and data analytics solutions to government and commercial customers globally [64766260].
Smartsheet Inc is a collaborative work management platform. Pete Godbole, the company's chief financial officer, has sold a significant amount of company stock. Smartsheet Inc reported better-than-expected earnings for the first quarter, with revenue of $256.95 million. The stock is currently trading at $41.81, with a 52-week range of $35.52 to $49.42. Several analysts have given the stock a buy rating, with an average target price of $51.75 [f3084417].
Palantir Technologies Inc. shares are moving higher after the company announced a strategic partnership with Voyager Space. The partnership aims to integrate advanced AI tools across Voyager's operations, enhancing Voyager's defense segment by utilizing AI to process and optimize flight and testing data for solid fuel thrusters. Palantir's software will also support real-time signal data processing and improve targeting for Voyager's optical communications systems used by the Department of Defense. Voyager will leverage Palantir Foundry and the Artificial Intelligence Platform to add value to its in-house payload management system for International Space Station customers and onboard the Starlab commercial space station in the future. As a result of the partnership announcement, Palantir's stock saw a 4.67% increase.
BofA Securities has added Palantir to its top 10 best U.S. ideas list for the third quarter. The company's exposure to government contracts has been well-known, but its growth in the commercial side of the business is starting to boom. Palantir's stock has seen positive momentum, with a 2.15% increase, reaching $25.86 per share [8ac598b0].
Datadog, a critical area of AI focused on security, is also showing positive momentum. It is starting to break out above critical levels from a technical perspective. Datadog shares were up 1.29% at $131.37 [8ac598b0].
Palladyne AI (PDYN) is a software company that focuses on delivering software to enhance the utility and functionality of third-party stationary and mobile robotic systems. It has a beta of 3.37, making its stock price 237% more volatile than the S&P 500. 26.0% of Palladyne AI shares are owned by institutional investors, compared to 47.1% for its rivals. Palladyne AI has a negative net margin of 1,390.02% and a negative return on equity of 74.87%. Its rivals have higher revenue and earnings, and Palladyne AI is trading at a higher price-to-earnings ratio than its rivals. Analysts believe that Palladyne AI has less favorable growth aspects than its rivals. Palladyne AI was formerly known as Sarcos Technology and Robotics Corporation and changed its name to Palladyne AI Corp. in March 2024. It was founded in 2017 and is headquartered in Salt Lake City, Utah.