As data mining firm Palantir’s shares continue to climb, Thiel is cashing out. He’s not the only Palantir insider doing so.

Palantir Chairman Peter Thiel just sold big blocks of shares of the data-analytics firm, and he still has a substantial amount of stock to sell. Thiel sold 16,178,415 Palantir shares from Tuesday through Thursday for a total of $597 million,

Peter Thiel sold almost $600 million of Palantir Technologies Inc. stock this week, bringing his total disposals this year to more than $1 billion.

Palantir has a big influence in the defense sector. Becoming involved with the Department of Defense's Project Maven in 2019 was a major catalyst for the company. These deals are helping accelerate Palantir's public sector business.

Peter Thiel, a co-founder and current chair of data analytics company Palantir (PLTR), has sold nearly $600 million of company stock. According to

Peter Thiel, the Chairman of Palantir Technologies (NYSE:PLTR), sold over $600M worth of the company's stock this week, bringing his total disposals this year to over $1B. In December last year, Palantir disclosed that entities owned by Thiel had adopted a type of trading plan which public-company executives commonly used to schedule sales.