Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 4,500,000 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $0.34 during trading on Thursday, hitting $55.87. 121,369,861 shares of the company’s stock traded hands, compared to its average volume of 57,446,848. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $56.47. The stock has a market capitalization of $125.12 billion, a P/E ratio of 278.85 and a beta of 2.70. The business has a 50-day simple moving average of $39.10 and a 200-day simple moving average of $30.15.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in 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 valued at $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. grew its position in Palantir Technologies by 248,208.2% during 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 last quarter. Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after acquiring an additional 3,038,861 shares during the period. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several recent research reports. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup increased their price target on 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has a consensus 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.