Billionaire Peter Thiel Just Sold $1 Billion of Palantir Stock. Should You Cash Out, Too?

Peter Thiel is best known as one of the co-founders of PayPal and an early investor in Meta Platforms, then known as Facebook. After leaving PayPal, he co-founded another company, Palantir Technologies (NYSE: PLTR), where he serves as chairman.Thiel sold over $1 billion worth of Palantir stock over the last few days of September and the first day of October, according to Securities and Exchange Commission (SEC) filings. Those sales came after the company officially joined the S&P 500 on Sept. 23. Thiel also shed about $400 million worth of Palantir stock earlier this year.Thiel's sales were executed automatically as part of the 10b5-1 plan adopted in May. That plan automatically sells Thiel's shares upon reaching certain criteria, effectively reducing the influence of insider information on the selling decision. Thiel has now exhausted the authorization through Dec. 31 of next year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool