Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $247,635,000.00 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $58.39 on Friday. The stock has a market cap of $130.76 billion, a PE ratio of 291.96 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $58.48. The firm has a fifty day moving average price of $40.13 and a 200-day moving average price of $30.65.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business posted $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Mizuho upped their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $31.71.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. grew its holdings in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. ARK Investment Management LLC increased its holdings in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc lifted its stake in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares during the last quarter. 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.