Palantir Technologies Sells Portion of Rubicon Technologies Stock Worth Over $13,000 - Analysis & Insights
Palantir Technologies Inc., a major shareholder in Rubicon Technologies, Inc., recently made significant sales of its holdings in the company, totaling over $13,000. These transactions took place over three days, with shares being sold at prices ranging from $0.1098 to $0.1249 per share.
On the first day, 50,000 shares were sold at an average price of $0.1249, with a price range of $0.118 to $0.131. The following day saw 30,769 shares sold at an average of $0.1218, within a range of $0.1199 to $0.1244. Finally, 30,000 shares were sold on the last day at an average price of $0.1098, with prices ranging from $0.1058 to $0.112.
Despite these sales, Palantir Technologies remains a ten percent owner of Rubicon Technologies, holding over 10.4 million shares after the reported transactions. Investors can request more details about the sales from Palantir Technologies or other relevant parties.
In other news, Rubicon Technologies reported its first-quarter 2024 financial results, showing a revenue of $166.1 million and an adjusted EBITDA loss of $11.0 million. The company also sold its Fleet Technology business units for $94.2 million to reduce debt. Following these updates, Cantor Fitzgerald adjusted its price target for Rubicon to $0.60 from $1.60, reflecting challenges with revenue and customer retention. CFO Kevin Schubert also resigned, marking a significant change in the company's financial leadership.
InvestingPro Insights:
Analyzing Rubicon's financial health, the company's market capitalization stands at $6.69 million USD, with revenue of $681.59 million USD over the last twelve months as of Q1 2024. However, financial indicators like negative profit margin and return on assets suggest challenges in profitability. The gross profit margin of 7.37% aligns with concerns about weak margins.
Rubicon's stock has experienced a significant price drop, with a 1-year price total return of -95.82%, indicating a downward trend. The stock's high volatility and debt issues may impact investment decisions. Investors can access detailed tips on Rubicon's financial challenges and market performance to make informed choices.
For more insights and analysis, investors can utilize the coupon code PRONEWS24 for up to 10% off on InvestingPro subscriptions, offering comprehensive market understanding. Understanding Rubicon's position and market dynamics is crucial for investors, especially with significant shareholder actions like Palantir Technologies' recent sales.
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