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 that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Palantir Technologies Trading Up 0.5 %

PLTR traded up $0.17 during trading on Tuesday, hitting $36.48. 64,256,148 shares of the company’s stock were exchanged, compared to its average volume of 55,133,883. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.05. The stock has a 50 day moving average price of $30.04 and a 200 day moving average price of $25.66. The firm has a market cap of $81.70 billion, a P/E ratio of 304.03, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on PLTR shares. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Bank of America upped their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup raised 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. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.79.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. raised its position in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.