Palantir Technologies Inc. (NYSE:PLTR) Insider Sells $2,400,239.93 in Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palantir Technologies Trading Down 1.4 %

Shares of Palantir Technologies stock opened at $62.11 on Thursday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The company has a fifty day simple moving average of $44.83 and a 200-day simple moving average of $32.84. The stock has a market cap of $141.49 billion, a price-to-earnings ratio of 310.57 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its earnings results 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 return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter valued at about $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. Northland Securities boosted their target price 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. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.71.

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.