Alexander C. Karp Sells 1,007,496 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palantir Technologies Trading Down 1.2 %

Shares of PLTR stock opened at $61.36 on Friday. The company has a market cap of $139.77 billion, a price-to-earnings ratio of 306.79 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The stock has a 50 day simple moving average of $45.36 and a 200-day simple moving average of $33.04.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt cut their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Six equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.71.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted 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 worth $27,000 after buying an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.