Palantir Technologies (NYSE:) Inc., known for its specialized software services, recently executed a series of sales transactions involving shares of Surf Air Mobility Inc. (NYSE:SRFM). Over the course of three days, Palantir Technologies sold a total of $21,321 worth of Surf Air Mobility’s common stock.
The transactions took place between September 17 and September 19, with Palantir Technologies selling shares at prices that varied each day. On the first day, shares were sold at a weighted average price of $1.2428, within a range of $1.18 to $1.37. The following day, sales were made at a weighted average price of $1.2667, with individual sales prices ranging from $1.24 to $1.31. The final day’s sales occurred at a weighted average of $1.1535, with a price range between $1.10 and $1.23.
The sales are part of normal market transactions and the company has offered to provide full information regarding the number of shares sold at each separate price upon request by the Securities and Exchange Commission, the issuer, or any security holder of the issuer.
Following these transactions, Palantir Technologies’ ownership in Surf Air Mobility has been adjusted to reflect the sold shares. Investors and followers of Surf Air Mobility Inc. will be keeping a close eye on these recent changes in share ownership as they assess the company’s ongoing market position.
In other recent news, Surf Air Mobility Inc. has made significant strides with its financial and operational developments. The company recently implemented a 1-for-7 reverse stock split, consolidating every seven shares of existing common stock into one. This move, which has resulted in approximately 12,826,529 shares currently issued and outstanding, is aimed at maintaining compliance with the New York Stock Exchange’s listing requirements.
Canaccord Genuity, an independent financial services firm, maintained a Hold rating on Surf Air Mobility’s shares, adjusting the price target to $2.20 following the reverse split. The firm emphasized Surf Air Mobility’s plan to regain compliance with listing standards, a step towards stabilizing its financial standing.
In addition to these financial changes, Surf Air Mobility has seen shifts in its corporate structure. The company announced the resignation of director Stan Little, who will continue his involvement as a Special Advisor. Moreover, seasoned airline executive Jim Sullivan was appointed as President of Air Mobility.
Piper Sandler, an investment bank and…
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