Palantir Technologies Inc. (NYSE:PLTR) Insider Alexander C. Karp Sells 4,500,000 Shares

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $36.48 on Wednesday. The company has a market cap of $81.70 billion, a price-to-earnings ratio of 304.03, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. The stock’s 50-day moving average is $30.04 and its two-hundred day moving average is $25.66. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $37.05.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the firm earned $0.01 EPS. The company’s revenue was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares in the last quarter. Accel Wealth Management purchased a new position in Palantir Technologies in the first quarter valued at approximately $360,000. Panagora Asset Management Inc. raised its holdings in Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $262,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLTR shares. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Citigroup boosted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Argus assumed coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Raymond James upped their price target on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $26.79.

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.