Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $162,315,000.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Palantir Technologies Trading Up 0.5 %

NYSE:PLTR traded up $0.17 during mid-day trading on Tuesday, hitting $36.48. The stock had a trading volume of 64,256,148 shares, compared to its average volume of 55,133,883. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $37.05. The company has a market capitalization of $81.70 billion, a PE ratio of 304.03, a PEG ratio of 6.16 and a beta of 2.72. The stock has a 50-day simple moving average of $30.04 and a two-hundred day simple moving average of $25.66.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Vanguard Group Inc. lifted its position in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares during the period. Marshall Wace LLP boosted its stake in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter worth $46,542,000. Finally, Coatue Management LLC increased its stake in Palantir Technologies by 285.6% in the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several research reports. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. DA Davidson boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Raymond James upped their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Finally, Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.79.

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.