U.S. Representative Jonathan Jackson has disclosed a well-timed sale of Palantir Technologies (NASDAQ: PLTR) shares that occurred weeks before a sharp decline in the stock.
In this line, a February 23 financial filing shows Jackson sold between $15,001 and $50,000 worth of Palantir on January 16, 2026. At the time, the shares were trading near $170. Over the following five weeks, the stock fell about 24%, closing around $128 on February 24.
The sale came less than a month after Jackson initially purchased the same position size in Palantir on December 22, 2025. The quick turnaround, followed by a steep drop in the share price, has drawn attention to the timing of the trade.
Notably, Palantir specializes in government-focused data analytics and artificial intelligence (AI) software. The company derives substantial revenue from federal contracts, including work with agencies such as Immigration and Customs Enforcement and the Department of Homeland Security.
Meanwhile, Jackson serves on the House Committee on Agriculture, including subcommittees on commodity markets, digital assets, and rural development, and on the House Committee on Foreign Affairs.
Source of controversy
While he does not directly oversee homeland security or defense contracting, lawmakers in such roles are often exposed to policy and technology developments that can affect companies operating in the government technology space.
However, in early January 2026, after his initial Congress trade drew public scrutiny, Jackson said he was embarrassed by the investment due to ethical concerns surrounding Palantir’s immigration enforcement work. He stated that the position had been opened by his financial advisor without his direct involvement and that he directed its sale once he became aware of it.
Notably, the sale occurred before broader weakness in AI and software stocks intensified. After rising more than 135% in 2025, PLTR shares came under pressure in early 2026 amid valuation concerns above 200 times trailing earnings, slowing growth, and increasing competition.
To this end, there is no public evidence of insider trading or a violation of the STOCK Act. However, the speed of the transaction and its alignment with the subsequent decline could potentially raise questions.
The same filing also reported a small sale of Robinhood Markets shares, purchases in Citigroup and GE Vernova and larger holdings in Viasat and Walmart.
Featured image via Shutterstock