Alexander C. Karp Sells 1,823,602 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $406,004,124.96. This represents a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Palantir Technologies Stock Up 11.1 %

Shares of NYSE:PLTR opened at $65.77 on Friday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The firm’s 50 day moving average price is $43.19 and its 200 day moving average price is $32.01. The stock has a market cap of $147.29 billion, a price-to-earnings ratio of 328.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released 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. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its stake in Palantir Technologies by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after purchasing an additional 2,427 shares during the last quarter. Empowered Funds LLC raised its stake in Palantir Technologies by 32.0% during the 1st quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock worth $569,000 after acquiring an additional 6,002 shares in the last quarter. Sei Investments Co. lifted its position in Palantir Technologies by 20.1% in the first quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after acquiring an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Palantir Technologies by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock valued at $9,300,000 after acquiring an additional 25,258 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Palantir Technologies by 15.9% during the first quarter. US Bancorp DE now owns 198,930 shares of the company’s stock worth $4,577,000 after purchasing an additional 27,322 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PLTR. Mizuho upped their target price 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. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.71.

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.