Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 1,007,496 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Palantir Technologies Trading Up 4.8 %

Shares of Palantir Technologies stock opened at $64.33 on Friday. 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 moving average of $45.94 and a 200 day moving average of $33.31. The firm has a market cap of $146.55 billion, a PE ratio of 321.65 and a beta of 2.70.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Mizuho upped their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $31.71.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during the 3rd 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 during the last quarter. Finally, 1832 Asset Management L.P. raised its position in 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 worth $83,418,000 after purchasing an additional 3,623,840 shares during the period. 45.65% of the stock is owned by institutional investors.

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.