Stephen Andrew Cohen, Palantir Technologies Inc.’s director, has reportedly sold a total of $43.7 million in Class A Common Stock on February 20, 2026. The transactions were executed through multiple sales, with average selling prices ranging from $132.0346 to $135.7252. According to the latest reports, 32,376 shares were sold at a weighted average price of $132.0346; 100,910 shares at $132.862; 85,051 shares at $133.7565; 89,924 shares at $134.8296; and 18,827 shares at $135.7252.
The shares were acquired directly from the company as restricted stock, and they were sold through Morgan Stanley Executive Financial Services. According to the SEC Form 144 filing, the total shares outstanding in the company are 2,291,470,751 (2.29 billion), which leaves the insider selling a very small portion (0.014%) of the total company. Currently, Palantir Technologies Inc. (PLTR) is facing downward pressure, and the stock closed around $128.84, reflecting 1.35% down.
The recent reports confirm that on the same day, Andrew Cohen converted 327,088 shares of Class B Common Stock to Class A Common Stock. Following the conversion on February 20, a total of 675,000 Restricted Stock Units were converted into Class B Common Stock. The SEC filing confirms that he sold securities in the past three months. He sold 39,136 shares on November 21, 2025, and the fund received through the sales were $611,054.56 (6.1 million).
The transaction details of Cohen’s sale are given below.
| Shares Sold | Weighted Avg Price (USD) | Value (USD) |
| 32,376 | 132.03 | ~$4.3M |
| 100,910 | 132.86 | ~$13.4M |
| 85,051 | 133.76 | ~$11.4M |
| 89,924 | 134.83 | ~$12.1M |
| 18,827 | 135.73 | ~$2.6M |
Rackspace Technology, a leading end-to-end, hybrid, and multicloud solutions provider, has officially announced a strategic partnership with Palantir Technologies. The collaboration is primarily aimed at enhancing Palantir’s AI platforms deployment. As part of the deal, both companies have agreed to integrate Palantir’s sophisticated software platforms into Rackspace’s secure cloud infrastructure. According to them, this move will transform AI project implementation from a multi-year process into one achievable within weeks.
According to Rackspace Technology’s official press release, the company said it had formed a strategic partnership with Palantir Technologies to help enterprises deploy Foundry and AIP faster and achieve measurable outcomes. It stated that Rackspace’s governed model would ensure security, compliance, and operational control, enabling AI deployment in weeks instead of years. The release added that Palantir software would run in Rackspace’s Private Cloud and UK Sovereign data centers for regulated industries. Rackspace said it would provide data migration, hosting, and managed services, supported by 30 trained engineers, expected to grow to over 250 within 12 months thereafter.
Sameer Kirtane, Head of US Commercial at Palantir, said that organizations that adopted their AI Operating Systems fundamentally changed their unit economics. He stated that, in the context of migrating complex data environments, Palantir AIP was reducing completion timelines from years to days. He added that Rackspace Technology would help their customers accelerate the pace of adoption and, as a result, lead their respective industries.
Gajen Kandiah, CEO of Rackspace Technology, responded that organizations needed AI that worked in production, not just in demos. He explained that Palantir’s platform, combined with Rackspace’s governed cloud operations and their shared forward-deployed engineering approach, enabled customers to accelerate time to value and drive competitive business impact while maintaining governance and security. He added that this was especially important in regulated industries.
