Palantir Stock Under Pressure as Insiders Sell Shares

A lockup provision that limited the ability of Palantir Technologies (NYSE: PLTR) insiders to sell shares expired last week, and as expected, some in the company are taking advantage. Company co-founder Stephen Cohen sold 3.8 million shares over several transactions, according to regulatory filings, while general counsel Matt Long sold 469,000 shares and chief legal and business officer Ryan Taylor sold 190,991 shares. As part of the listing, insiders were initially allowed to sell 20% of their shares, with the remainder not eligible for sale until now.