Insider Selling: Palantir Technologies Inc. (NYSE:PLTR) Insider Sells 3,337,048 Shares of Stock

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Palantir Technologies Price Performance

NYSE:PLTR opened at $41.56 on Friday. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $45.14. The business has a 50 day moving average of $37.77 and a 200 day moving average of $29.36. The company has a market capitalization of $93.07 billion, a price-to-earnings ratio of 244.47 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLTR shares. Wedbush increased their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Northland Securities assumed coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Finally, Mizuho lifted their target price on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC grew its stake in Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.