Palantir Technologies Inc. (NASDAQ:PLTR) reported insider transactions on February 20, 2026, when Chief Technology Officer and Executive Vice President Sankar Shyam sold a total of $22.5 million worth of Class A Common Stock. The trades were carried out across multiple executions, with transaction prices spanning from $132.0346 to $135.7252.
According to a Form 4 filed with the Securities and Exchange Commission, the sales were broken down as follows:
- 16,630 shares sold at a weighted average price of $132.0346
- 51,831 shares sold at a weighted average price of $132.862
- 43,685 shares sold at a weighted average price of $133.7565
- 46,188 shares sold at a weighted average price of $134.8296
- 9,670 shares sold at a weighted average price of $135.7252
On the same day as the divestitures, Shyam also completed a conversion of Class B Common Stock into Class A Common Stock, receiving 168,004 Class A shares through conversion. In addition, 375,000 shares of Class B Common Stock were added to his holdings as a result of restricted stock units vesting.
Market context on the trading day showed Palantir's shares closing at $128.82, down from the prior close of $130.60. The company’s shares were down 27% year-to-date. An InvestingPro analysis cited in company reporting indicated Palantir was trading at a price-to-earnings ratio of 204, a metric described as suggesting overvaluation at current levels.
Beyond the insider activity, Palantir disclosed several corporate developments. Rackspace Technology announced a strategic partnership with Palantir intended to accelerate enterprise deployment of Palantir’s AI platforms. The collaboration is described as enabling organizations to implement AI use cases in production within weeks, shortening a typical deployment timeline significantly.
Recognition of Palantir's technology was also noted: Dresner Advisory Services included the company in 15 categories of its 2025 Technology Innovation Awards, with identified strengths listed in areas such as Data Engineering and AI/Data Science/Machine Learning.
Analyst coverage has reflected recent operational performance. Mizuho upgraded Palantir to an "Outperform" rating, citing the company’s revenue growth and margin expansion. Freedom Capital Markets similarly moved Palantir to a "Buy" rating after the company’s fourth-quarter 2025 results reportedly exceeded management guidance and analyst estimates. The growth of Palantir’s Artificial Intelligence Platform (AIP) has been singled out as a driver of accelerating sales momentum, particularly in the U.S. commercial and government sectors.
These items together - substantial insider selling, a significant conversion and vesting event, partnership activity, industry recognition and analyst upgrades - represent concurrent signals for investors to weigh. The company’s stock performance year-to-date and the InvestingPro valuation note provide countervailing data points to the positive operational developments cited by analysts and awards panels.
As disclosed, all trades and corporate developments referenced occurred on or before February 20, 2026, and are recorded in the relevant SEC filings and company announcements.