Palantir Technologies (NYSE:) Inc., known for its significant stake in various tech companies, has recently executed a series of stock sales in Rubicon Technologies, Inc. (NASDAQ:RBTC). These transactions, which took place over a span of three days, resulted in Palantir selling a total of 101,802 shares of Rubicon Technologies’ Class A Common Stock.
The sales occurred between September 23 and September 25, with varying prices for the shares. On the first day, 60,000 shares were sold at a price of $0.051 each. The following day saw a sale of 22,802 shares, with prices ranging from $0.0467 to $0.0503, as detailed in a footnote in the SEC filing. The weighted average sale price for this transaction was reported at $0.048. On the final day, Palantir sold 19,000 shares at a weighted average price of $0.0463, with individual sales prices ranging from $0.045 to $0.05.
The total dollar value of the sales over these three days amounted to approximately $5,034. These transactions have adjusted Palantir’s holdings in Rubicon Technologies, although the company still retains a significant number of shares post-transaction.
Investors and market watchers often keep a close eye on such filings to gauge the sentiment of major shareholders towards the company’s stock. Palantir’s divestment, albeit a small fraction of its total ownership, might be of interest to those following the company’s investment patterns.
For further details on the specific transactions, including the exact number of shares sold at each separate price within the ranges provided, Palantir Technologies has committed to furnishing this information upon request by the SEC, Rubicon Technologies, or any of their respective security holders.
InvestingPro Insights
As Palantir Technologies Inc . adjusts its investment in Rubicon Technologies, Inc. (NASDAQ:RBTC), investors may benefit from a closer look at Rubicon’s financial health and market performance. According to InvestingPro data, Rubicon Technologies currently has a market capitalization of $3.55 million, which is relatively small, reflecting the company’s niche position in the market. The stock has experienced significant volatility, with a one-week price total return of -12.57% and a staggering one-year price total return of -98.02%, indicating a sharp decline in investor confidence over the past year.
InvestingPro Tips highlight several challenges faced by Rubicon Technologies. The company operates with a significant debt burden and has been quickly burning through cash. This is further compounded by weak gross profit margins, which stand at 6.58% for the last twelve months as of Q2 2024. Additionally, analysts do not anticipate Rubicon to be profitable this year, which may contribute to the stock’s poor performance over various time frames, including a six-month price total return of -86.28%. Such metrics suggest that investors should proceed with caution when considering this stock.
For those interested in a deeper analysis, InvestingPro offers additional insights. There are 16 more InvestingPro Tips available for Rubicon Technologies, which can be accessed to gain a comprehensive understanding of the company’s financial outlook and stock performance. These tips provide valuable context for Palantir’s recent sale and can help investors make informed decisions.
To explore these insights and tips in detail, visit InvestingPro’s dedicated page for Rubicon Technologies at https://www.investing.com/pro/RBTC.
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