Palantir Technologies Inc. (NYSE:PLTR) Insider Alexander C. Karp Sells 4,500,000 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Palantir Technologies Price Performance

NYSE:PLTR opened at $65.81 on Friday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00. The firm has a market capitalization of $147.38 billion, a PE ratio of 329.07 and a beta of 2.70. The business’s fifty day moving average price is $43.19 and its 200 day moving average price is $31.94.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PLTR shares. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Wedbush raised their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.