Alexander C. Karp Sells 1,620,395 Shares of Palantir Technologies Inc. (NYSE:PLTR) Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Palantir Technologies Stock Up 4.9 %

Shares of Palantir Technologies stock opened at $64.35 on Friday. The stock has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The company has a 50-day simple moving average of $45.94 and a two-hundred day simple moving average of $33.39.

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Citigroup upped their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Mizuho boosted their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Finally, Bank of America raised their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Six investment 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.71.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its holdings in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the second quarter valued at about $25,000. Finally, Creekmur Asset Management LLC grew its position in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.