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

Palantir Technologies Inc. (NYSE:PLTR) insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Palantir Technologies Price Performance

NYSE PLTR traded up $6.63 on Friday, hitting $65.81. 154,739,757 shares of the company were exchanged, compared to its average volume of 58,381,973. The company’s 50 day moving average price is $42.48 and its 200-day moving average price is $31.65. The firm has a market capitalization of $147.38 billion, a P/E ratio of 318.82 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.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data 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. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. 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’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $31.71.

Institutional Trading of Palantir Technologies

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

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.