Alexander C. Karp Sells 1,620,395 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Palantir Technologies Stock Up 4.9 %

Shares of PLTR stock opened at $64.35 on Monday. The firm has a fifty day moving average of $45.94 and a 200-day moving average of $33.48. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The company has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70.

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

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Bank of America increased their price objective 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. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Citigroup increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $31.71.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies in the third quarter valued at $1,076,000. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.