Palantir Technologies Inc. (NYSE:PLTR) Insider Alexander C. Karp Sells 3,337,048 Shares

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

Palantir Technologies Stock Performance

Shares of NYSE PLTR traded down $0.02 during trading on Tuesday, hitting $44.96. The company had a trading volume of 26,067,943 shares, compared to its average volume of 56,328,008. The stock has a 50 day simple moving average of $37.11 and a 200 day simple moving average of $29.02. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.14. The firm has a market capitalization of $100.67 billion, a P/E ratio of 264.24 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Citigroup upped their target price 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. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Mizuho increased their price target on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Brookstone Capital Management purchased a new position in shares of Palantir Technologies in the 1st quarter worth approximately $546,000. Aviance Capital Partners LLC purchased a new position in Palantir Technologies during the 1st quarter valued at $317,000. Diversified Trust Co raised its position in Palantir Technologies by 7.9% during the 1st quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock valued at $522,000 after purchasing an additional 1,669 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Palantir Technologies by 29.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,590 shares of the company’s stock valued at $313,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Claro Advisors LLC raised its position in Palantir Technologies by 18.0% during the 1st quarter. Claro Advisors LLC now owns 15,398 shares of the company’s stock valued at $354,000 after purchasing an additional 2,346 shares in the last quarter. Hedge funds and other institutional investors 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.